As The Crypto Market Recovers, Monero Price Increases 12%

Monero, which is the 11th largest cryptocurrency with a market cap of close to $3.6 billion, increased over 12% during the past 24 hours as it price value increased to $233.74.

With a market cap of over $4 billion, Monero, a privacy-centric currency, takes the 10th place IOTA.

This week, Monero has recovered $1 billion, starting this week with $167.78 with a market value of $2.66 billion.

The currency has been able to regain the losses it made in the past month. By the end of March, the price was at $233.53, with a market value of $3.732 billion. But, the currency still has more grounds to cover to get back to its $389.03 price in January when it had a record market value of $6.078 billion.

However, the price has been able to maintain the $40 to $50 mark it gain last year. Monero was one of the currencies including bitcoin that made it possible for the market to rise to $334 billion which could possibly increase to $350 billion. During the last 24 hours, bitcoin price recovered to $8,100 following its recent drop to $7,850.

On April 6, Monero started its semi-annual hard fork, attracting numerous upgrades. One of those upgrades, however, threatens to separate the network into two rival chains.