Monero hits record high of $686 after Dubai bans privacy tokens on exchanges

tldr; Monero (XMR), a leading privacy-focused cryptocurrency, hit a record high of $686, marking a 14% increase in 24 hours and pushing its market capitalization beyond $12 billion. This surge coincided with Dubai’s ban on privacy tokens on regulated exchanges, effective January 12, which prohibits trading, promotion, and use of privacy tools like mixers. Despite the crackdown, Monero’s price rally reflects growing interest in privacy-sector tokens, with XMR outperforming major cryptocurrencies like Bitcoin and Ethereum.

*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Check out $Story IP 🚀

Yeah not only is it a privacy coin, but people are aware that countries do this to manipulate the market, then reverse their decision afterwards sometime down the line.