Something interesting has been going on in the cryptocurrency market in the last 24hrs. Monero (XMR) as of yesterday was the world’s tenth largest cryptocurrency token, in a twist of events in a 24hr time period, the token has not only squashed its opponent Tether (USDT) to become the ninth largest cryptocurrency bay a large margin but has also attained an impressive price volume while it gathers momentum to overthrow its next competitor.
As of Nov 11th, Monero had descended by 2.67% and was trading at a price of $103.36. Right above Monero, Tether’s trading price sat at $0.998064 after attaining slight gains of 0.38%. It didn’t take too long for Monroe to crawl its way up once its trading volume began to swell.
The token moved up by a percentage of 2.10, pushing its trading price to $105.80. An upsurge in trading volume kicked Monero’s marketcap from $1.71 billion to $1.75 billion against Tether token whose market cap was at $1.77 billion but has now declined to $1.69 billion.
Traders from exchange giants Binance and Bithumb can be credited for the token’s current trading price. Bithumb trading pairs against the South Korean Won (KRW) totaled at $530.49 million, while Binance trading pairs of Monero against Bitcoin rounded up at $4.30 million. Cardano (Ada) which has fallen by 1.61% might be knocked out by Monero as the token continues to skyrocket.
Meanwhile, BAT has continued to suffer huge losses since its listing on both CoinbasePro and Coinbase.com. The token has moved from the 29th spot in the last seven days to sit at the 34th position.
From a trading price of $0.316637 upon Pro’s listing, BAT now trades at $0.249006 as of this writing. Declining by 4.43% in the last 24hrs, BAT is still struggling to maintain stability.