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Monero risesThere is a popular saying in the world of cryptocurrencies about the kind of altcoins that people hold and believe in. At any given point most of us have heard or read that going forward, and thanks to the explosion of new assets in the market, the kind of cryptocurrency a person holds will say a lot about that person. If this is true, then many could infer that whoever holds Monero has something to do with murky deals on the so called dark web. Hence their choice of cryptocurrency might lead people to assume that they are involved in illegal activities. Holding the same popular saying to the light of cryptocurrency markets however, would cast Monero holders and believers in a whole different light.

Monero Soars Above Litecoin Briefly

On February 15th, 2017 at around 3:30 pm GMT, cryptocurrency markets vindicated Monero holders’ choice of altcoin. Around this time, Monero was above Litecoin in terms of market cap. This was not the first time that Litecoin fell below the asset that was once the dark horse of cryptocurrency markets. This shows Monero has legitimate features that make it desirable. Its holders should probably be regarded as shrewd if they are being judged by that popular saying.

 

Monero All Time Chart

Monero rose briefly above Litecoin once more, and although its price is still below its historic high, the trend in this chart is undeniable. This is mainly due to the value that this asset delivers. Chart courtesy of coinmarketcap.com.

 

Anonymity is Desirable and Legitimate

For all its associations with illegal activity, Monero’s anonymity features are genuinely desirable. Anyone who wishes to remain anonymous while making a transaction has a legitimate right to do so. That is the real value behind Monero, and that is why the markets are rewarding its holders. There is no doubt that as the world of cryptocurrency becomes more mainstream, many law abiding people will want to use an asset like this one to conduct their business. That is precisely why those who hold Monero and believe in that altcoin now, will probably be rewarded even more later on.

The Potential of Monero

The fact that Monero has surpassed Litecoin again and remains just a few hundred thousand dollars below the more established cryptocurrency in terms of market cap, clearly shows its true potential. An increase in the demand for this cryptocurrency can be attributed to a number of factors, but understanding the potential behind this altcoin goes beyond the focus on its dubious reputation. Shrewd investors understand that, and it is likely that they are responsible for Monero’s recent uptick. It is clear that a lot can be said about people who hold Monero and believe in its potential.

BitcoinChaser Staff

Here at BitcoinChaser.com we live, breathe and write about Bitcoin and cryptocurrency. Interested in being featured? Give us a shout!

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