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