Monero climbs to new high of $687 as crypto surveillance tightens

Tightening KYC regulations and growing scrutiny on the digital economy are triggering more investor demand for privacy-preserving digital assets like Monero.

Privacy-preserving cryptocurrency Monero surged to a new all-time high on Tuesday as tightening digital asset regulations contribute to heightened investor demand for privacy coins.

Monero (XMR) rose to a new all-time high above $687 on Tuesday, up around 14% rise over the past 24 hours, according to TradingView data.

Monero has gained roughly 45% in the past week, becoming the 12th largest crypto by market cap as the total market capitalization of privacy-focused coins rose by 3.5%, and trading volume soared 32%, CoinMarketCap data shows.

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