If you have read our beginner’s guide to Monero, you
If you have read our beginner’s guide to Monero, you would know it’s an incredible privacy coin and now you may be wondering about what the highest price of Monero was.
Does the coin’s price match up to its value? What was its highest price? Let’s find out.
Before that, and just in case you have not read our beginner’s guide to Monero yet, let’s find out what Monero really is.
What is Monero (XMR)?
Monero is a open source cryptocurrency which, by virtue of its incredibly secure encryption, serves as a privacy coin.
It has a major feature that sets it apart from most other cryptocurrencies in the market: fungibility.
What is fungibility? Well, it refers to the quality of interchangeability. For example, if person A has 10 units of XMR and person B also has 10 units of XMR, you could mix all of them up and have each of them randomly take coins each, and it would make absolutely no difference.
This is not the case with most of the older cryptocurrencies such as Bitcoin, which retains a traceable record of transactions.
So if person A has 10 Bitcoins (BTC) that he or she obtained via a criminal activity and person B takes some coins from A’s lot, he would end up with Bitcoins that have a shady history.
As the history of Monero is masked by incredibly secure forms of encryption, it allows for interchangeability, taking this crypto coin one step closer to similarity with money.
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What is Monero’s Price Right Now?
Right now, just like most other crypto coins in the market, Monero is also in a low-medium price zone, definitely quite low if you compare it to its highest price point.
Right now, at press time, it is also registering a minor fall of 0.06% and is priced at $45.66, with a market cap of $763.72 million.
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When Did Monero Reach Its Highest Price?
If you know anything about the history of the crypto market, you are probably aware that its peak point was reached about a year and a month ago, in the December of 2017.
Unlike the crypto winter that the latest December saw, that December had been completely imbued with festive cheer, as crypto prices had steadily climbed the charts to reach explosive heights.
Just like Bitcoin and most other well-known cryptocurrencies, Monero also reached its highest price in the second half of December, 2019. To be specific, it reached its highest price point on 20th December, 2017.
What Was The Highest Price of Monero?
Although the day closed at a lower price, that particular day saw Monero reach its historic height of $476.40.
As is obvious, that price was quite a bit more than ten times the crypto coin’s current price. Only a dramatic bull run could possibly propel Monero to such a peak again, if it is to happen again.
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