Monero rises to record above $687 as privacy coins rally amid tighter rules

Privacy-focused cryptocurrency Monero surged to a new all-time high above $687 on Tuesday, rising about 14% over the prior 24 hours, according to TradingView data, as tightening digital asset regulations coincided with increased investor interest in privacy coins. Monero has gained roughly 45% in the past week and became the 12th largest crypto by market cap, while the total market capitalization of privacy-focused coins rose 3.5% and trading volume climbed 32%, CoinMarketCap data shows.

Privacy-focused cryptos have outperformed the wider market over the past three months since the $19 billion market crash in early October, the report says. Industry watchers point to tighter Know Your Customer and Anti‑Money Laundering rules as a main tailwind. Narek Gevorgyan, founder and CEO of CoinStats, told Cointelegraph that investor demand for “financial confidentiality” has been spurred by rising “surveillance” in the digital economy and “increasing government scrutiny of crypto transactions.” Crypto data platform Santiment warned in a Tuesday X post that elevated social media hype may make finding a new entry point difficult, saying: “If you are looking for an entry point, consider doing so after social hype and FOMO wear off slightly.” The platform also noted XMR development activity has fallen since the beginning of January and its social dominance peaked on Sunday.

Key Topics

Crypto, Monero, Privacy Coins, Zcash, Eu Aml Rules, Kyc Rules