this post was submitted on 23 May 2025
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According to the latest rumor, some Asian darknet overlords are responsible.

They have billions in non-fungible digital money, and they are moving it into Monero because the Alphabet boys came down on them.

Haowang Guarantee was larger than the Silk Road, larger than Hydra, just the "largest illicit online marketplace to have ever operated", with $27 Billion of transactions since launching in 2021.

Source: Trade brains

Source: @MoneroMavrick

Source: @MoneroMavrick

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[–] Saki@monero.town 2 points 1 month ago (2 children)

That's possible. I happened to see these weird/questionable theories elsewhere, not really convincing:

"There are also rumors that major exchanges are thinking about relisting XMR, which, when combined with Monero's lower liquidity and more concentrated holdings, can lead to major price movements"

"Researchers say part of that growth is due to a shift in the U.S. regulatory tone. The FIT21 crypto bill is picking up steam, and the SEC is taking a step back from labeling privacy coins as securities. This seems to be helping the market out a bit. It looks like the easing of pressure has led to more money flowing back into assets like Monero"

"There is also a lot of excitement about Monero's upcoming FCMP++ upgrade, which is expected later this year."

https://u.today/xmr-explodes-past-350-is-monero-finally-back

"Perhaps ironically, the surge is being fueled by this regulatory purge."

[This may be right.]

"Monero's rise is reactive rather than entirely organic. Fearing censorship, there is a rush toward decentralization."

https://u.today/monero-xmr-surges-with-3900-volume-skyrocketing

[–] antidote@monero.town 2 points 1 month ago (2 children)

Privacy coins are never getting back on the good side of regulators, never.

That theory is indeed very dubious.

[–] WarmApplePieShrek@lemmy.dbzer0.com 1 points 1 month ago (1 children)

The USA is stopping all regulators

[–] antidote@monero.town 2 points 1 month ago

Wdym? They can't stop other countries from banning it

[–] Saki@monero.town 1 points 1 month ago (1 children)

Yeah, most probably. It's crazy, though: they're now saying that: privacy-by-default = bad, no-privacy = good. That's the EU for you?

[–] antidote@monero.town 1 points 1 month ago (1 children)

The EU has gone crazy. They are impotent, and less and less relevant on the world stage.

Nevertheless they just want to centralize everything and control everything. I would for sure start looking for a plan B if I were there.

I think they will be the first to have both digital ID and CBDC. Combine that with limited cash tolerance and they can start sanctioning their own citizens for wrongthink and herding them back in line.

[–] Saki@monero.town 2 points 1 month ago

I think they will be the first to have both digital ID and CBDC.

Or possibly Israel will be? Or China. Paying/Having cash may become illegal eventually.

[–] Charlxmagne@monero.town 2 points 1 month ago

$300M USD's worth of BTC was reportedly recently social engineered and stolen from an elderly person and successfully laundered using XMR which caused the initial 50% increase in price.

[–] Wave@monero.town 2 points 1 month ago (2 children)

... maybe

  • Large miners connect entire warehouses full of computers to the Monero network.
  • The new Tari token also uses the Monero network for its consensus mechanism and increases the popularity of Monero. Even among long-established graphics card miners.
  • The price increase boosts profitability and so more workers come to mine.
  • The popularity of privacy increases as there is more and more surveillance, control and censorship by states. Privacy is also being talked about and worked towards in communities of other large networks, e.g. ADA and BCH.
  • There is less Monero than there is Bitcoin and scarcity is popular due to the widespread HODL mentality.
  • As the price rises, the ranking in many lists rises, which in turn attracts the attention of investors.
  • Large sums are routed through Monero as it guarantees uncensorability due to its privacy. This was also the case recently with Bitcoin worth 330 million US dollars.
  • Many online markets now only offer Monero, as it is untraceable and thus offers security for buyers and sellers.
[–] antidote@monero.town 1 points 1 month ago* (last edited 1 month ago)

The pump does coincide with the launch of Tari.

That's an interesting coincidence.

[–] Saki@monero.town 1 points 1 month ago

The popularity of privacy increases as there is more and more surveillance, control and censorship by states. Privacy is also being talked about and worked towards in communities of other large networks, e.g. ADA and BCH.

Interestingly, even Zcash (a less used privacy coin) is like +60%/mo (whereas +70%/mo for Monero) against USD. A coincidence? Or a general trend?