Monero Above $240 Smashing Records

Monero

The price of Monero (XMR) has hit new record highs above $240.

Source: CoinMarketCap

At press time, XMR is trading at $248.60 – just below its record of $251.90 reached at 14:54:06 UTC. The Monero-U.S. dollar (XMR/USD) exchange rate has increased by 24.56 percent in just 24 hours. On on a monthly basis, it is up 185.97 percent and the cryptocurrency is up 3074.96 percent for the year.

Source: CoinMarketCap

This morning a huge announcement broke the news for the cryptocurrency, as 40 top recording artists have now joined “Project Coral Reef” and will now accept Monero for their album and merchandise sales. XMR’s market cap is now currently sitting at a little over $3.8 billion. As news spreads about this big celebrity initiative, the trading price should continue to rise.

Featured Image: twitter

Chelsea Roh is a freelance content writer living in Vancouver, BC. Her current focus is cryptocurrency, financial analysis and blockchain technology. In addition to content writing, she is an experienced Social Media Manager/Strategist. Before moving to Canada, she spent 10+ years marketing and working hands on in the medical practice industry.