$240: Monero Prices Hit Record High and Could Climb Further

Prices of the privacy-focused cryptocurrency monero are at an all-time high and could keep on climbing, chart analysis indicates.

Monero (XMR) moved past previous record highs near $210 earlier today and was trading at the new lifetime high of $240.12 soon before press time. As per CoinMarketCap, XMR has appreciated 19 percent in the last 24 hours.

Activity on social media indicates the investor community has taken note of cybersecurity pioneer and eclectic personality John McAfee’s upbeat comments on the cryptocurrency. The noted antivirus inventor and CEO of MGTCapital, while talking to the media, said monero could be a serious competitor for bitcoin.

Indeed, the cryptocurrency looks to be moving more mainstream, with a music industry payments scheme announced today, although, of course, a clear connection between any media announcements and price gains can’t be clearly established.

The price rally is largely in line with the significant gains seen in other bitcoin alternatives like bitcoin cash and litecoin…

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