monero 800x500 - Why Did Monero Grow 250% In August

Why Did Monero Grow 250% In August

If you heard about Bitcoin and Ethereum, there are some chances to hear about Monero too. Monero is one of the most private, secure and untraceable cryptocurrency that there is in the industry. Besides this, August was one of the greatest months for Monero – with a 250% increase in price since July.

Monero is one of the most legitimate cryptocurrencies that there are. Backed by an experienced team of developers, with no pre-sale or ICO or any shady deal for its miners – The Monero development team and community shown unity even trough tough times.

But this month, on 21 August, Bithumb announced the listing of Monero on their Exchange. For the people that are not familiar with Bithumb – Bithumb is one of the biggest or probably the biggest cryptocurrency exchange. They have at least $700 million in transactions daily.  This news was pure gold for Monero, more and more people started buying it and on 23 August it hit $100 on some exchanges.  And this was just the beginning, as Monero hit a $154.58 all time high according to coinmarketcap. This hapend on August 28th and the price is still above $100, sitting at a $140 with a 8.95% increase for today. Also, this month was the first time Monero passed the 2 Billion market cap.

The fast increase in value is one of the things that made Bithumb famous. Ethereum, Ethereum Classic, Ripple and even Litecoin seen a drastic increase in value after being listed by Bithumb and Korbit, the two largest exchanges in South Korea. South Korea made itself know in the cryptocurrency as one of the countries that invest the most. In fact, one of the most known traders in South Korea declared that “When things start going to the moon, Koreans buy more than everyone else. It’s a much more extreme fluctuation,” for Forbes. And who could blame them? We’re all crazy about crypto.

And that’s not all for Monero. They actually announced today that a new service was born – The LocalMonero. If you’re a crypto enthusiast, it may look like LocalBitcoins for you. Exactly, because they made it the same way. So, in case you want to buy monero locally – this is the place for you to go.

Even though I’m not a Monero holder, I think this is great news for Monero. Finally, the team and the project got some positive media attention and the Bithumb listing will probably  increase the Monero value even more. Some people speculate it at a $200 short term and $400-$600 long term. If you wish to be a Monero Holder, try to mine Monero or to buy Monero

Photo Source:

Build a winning crypto portfolio
Free report teaches how to structure your crypto portfolio, so you can maximize gains and minimize losses.
We respect your privacy.

2 Replies to “Why Did Monero Grow 250% In August”

Leave a Reply