Monero Price Prediction 2021
March 02, 2021
What is Monero (XMR)?
Monero is an open-source cryptocurrency that gives much priority to privacy and anonymity. Launched in 2014, Monero is one of the first crypto assets that features cryptography. Monero’s blockchain operates majorly on the concept of keeping user’s information anonymous. Although Bitcoin also claims to keep transactions private, BTC payments are still traceable. Thus, Monero blockchain developers were successful in building a private and fungible cryptocurrency system.
We can trace Monero back to Bytecoin, which came into existence in 2012. Meanwhile, Bytecoin was an early implementation of CryptoNote and was also privacy-oriented. CryptoNote is a protocol used in the creation of decentralized cryptocurrencies. Later on, there were allegations that Bytecoin developers had sold 80% of the coin already. So, in April 2014, there was a fork of Bytecoin, which gave birth to Bitmonero. Eventually, Bitmonero developers renamed it Monero (which in Esperanto means “coin”).
The Monero blockchain has over time introduced fungibility, stealth addresses, ring signature, and RingCT. Thereby eliminating any glitch in user privacy. Stealth addresses enable users to create a different address for every transaction they perform in their account. Thus, the blockchain hides the destination address of a transaction. Likewise, ring signatures mix the sender’s account keys with public keys. Therefore, the identity of a sender will be unknown. Furthermore, RingCT or Ring Confidential Transactions is a tool to hide transaction amounts. So, the Monero blockchain successfully conceals information about a transaction sender, receiver, and amount.
Monero Price Chart
Market Prediction for Monero (XMR) Price 2021
Monero’s current price has gone above $270 as of this write-up. With a CoinMarketCap ranking of 18, XMR has a market capitalization of $4,837,551,144. Likewise, its circulating supply and total supply are the same – 17,843,406 XMR tokens. Meanwhile, there is no information about Monero’s maximum supply. However, by May 2022, XMR will eventually have a maximum of 18.4 million tokens. After that, miners will earn part of the little XMR coins fed into the system every minute. In the meantime, a new block is added to the Monero every two minutes.
From January 2021 to this time, Monero prices have had a 43% increase. Also, from February 2020 to February 2021, XMR prices have jumped by over 74%. The all-time high for the Monero coin price is $495, and Monero made it to this price three years ago in January 2018. The lowest Monero value in the coin’s history is $0.21, which was in January 2015. Looking at Monero news – its scalability and efficiency, Will it pump more in 2021? Let us see the opinions of expert analysts and investors on how far Monero will go in 2021.
Monero Value Predictions 2021
Trading Beasts Monero Price Prediction 2021
Trading Beasts gave a bearish Monero price prediction for 2021. Currently, they foresee the Monero coin price closing at an average of $233 by December 2021. Meanwhile, within a year, Trading Beasts forecast that Monero price USD will close above $298. Also, they do not see a drastic increase in Monero value by 2022.
Wallet Investor Monero Price Prediction 2021
Crypto forecast website Wallet Investor also has bearish Monero predictions for 2021. They tagged XMR as a bad one-year investment. However, Wallet Investor is bullish on the 5-year forecast of XMR. They foresee XMR pumping over 47% by 2026. Meanwhile, their 2021 and 2022 prediction chart suggest that XMR prices will not drop below $150.
Longforecast Monero Predictions 2021
Longforecast is as well quite bullish on Monero in 2021. According to their analysis, there will be a 261% increase in Monero’s current price in 2021. However, by December 2022, Longforecast predicts that Monero value would have dumped to $355. This prediction site also estimates a bearish move for XMR by 2025.
Digitalcoinprice Monero Predictions 2021
Digitalcoin is a crypto analysis website that makes price predictions based on historical data. Using Monero’s current price, Digitalcoin was able to make expert forecasts on XMR. The website predicts that by November, XMR will be over $455. However, due to stock market instabilities, the Monero value will close below $400.
Peter Todd Monero Price Prediction 2021
Bitcoin Core developer Peter Todd stated expressed support for Monero sometime ago. Peter said he prefers XMR to other cryptocurrencies due to the solutions it offers. Remember, Monero provides real-life privacy for its transaction environment. Therefore, experts like Peter Todd see a bright future for Monero.
Monero Price Prediction 2021
Monero is a project that facilitates maximum transaction privacy. Transactions are neither traceable nor trackable. As a result, XMR tokens are fungible and can be used to fund illegal activities. Although we do not encourage illegal transactions, the massive purchase of a crypto asset increases its price. So, the Monero current price will keep increasing if it frequently moves in large chunks.
On top of that, the team behind Monero continues to work. The team has significantly improved the blockchain technology of Monero. A new proof-of-work protocol – RandomX, was recently introduced. Blockchain upgrades can help invite new products and projects to launch on Monero the protocol. When products launch on the Monero blockchain, the adoption of such projects could increase XMR prices drastically. However, market instabilities could as well cause a dump in Monero coin price.
Monero Price Prediction 2025
In its early days, John McAfee gave a very positive forecast regarding Monero price. In several interviews, he has given very vocal support for Monero. John thinks Monero can challenge Bitcoin because of its privacy use-case. Meanwhile, he did not give an exact price prediction for the coin. John McAfee is a software developer and a cryptocurrency enthusiast.
Likewise, crypto developer Riccardo Spagni based his Monero predictions on Monero’s privacy. Criminal hackers adopt Monero for their transactions. As above, a widespread use for activities like that can increase Monero coin price in the future.
The expert prediction website Wallet Investor predicts Monero price USD to be above $600 by 2025. Of course, a 100% pump in price is feasible for such a long-term period.
Monero Price Prediction Verdict
By May 2022, miners would have completed the last blocks of Monero. Monero does not have a maximum supply yet. Consequently, an unknown maximum token could be damaging for its future price. Like Bitcoin, cryptocurrencies with a max supply experience price increase following the law of demand and supply. Thus, the Monero team needs to settle for a maximum amount to push the Monero news.
Looking at Monero’s current price and technical analysis, the coin is good for a buy-in in 2021. There has been a significant increase in Monero price USD so far in 2021. Recently, there have been some challenges for the cryptocurrency market. However, as the market recovers, XMR price will also gain more strength. Remember, Monero is at the forefront of privacy in the cryptocurrency ecosystem.
We encourage investors to do further research about Monero before buying it. If you find Monero a satisfying project, you can buy XMR on Atomic Wallet. Atomic Wallet is available for free download!
How to buy Monero
Create a wallet on your Atomic app and ensure to keep it secure. Atomic wallet app provides a beautiful interface for you to manage Monero and over 500 more tokens. Users can buy XMR and other cryptocurrencies with their Visa or Mastercard.
Payments are secure irrespective of your location. However, it would be best if you consider local cryptocurrency laws before making a payment. Create a free Atomic Wallet account today to get started.
How to Exchange Monero
Atomic Wallet users can exchange several cryptocurrency pairs on the app. Users will be able to swap Monero for other crypto assets directly. XMR comes with other crypto pairs on The Atomic exchange. The exchange is decentralized and anonymous. Atomic Wallet provides the best exchange rates.
All Monero price predictions and Monero price forecasts are not financial advice. Please do further research! Cryptocurrencies are volatile, and there can be frequent market uncertainties.