This week, the cryptocurrency market responds strongly to events surrounding Monero, Bittensor, and BlockDAG. Price changes in these assets have drawn attention from analysts and investors.
Monero's Sharp Price Surge Tied to Hacker Attack
Monero (XMR) experienced a sharp 50% price surge, reaching $388 after a major Bitcoin hack, where 3,520 BTC worth approximately $330.7 million were stolen. The stolen Bitcoin was quickly converted into Monero through multiple instant exchanges, causing a demand-supply shock in the XMR market.
Bittensor Analysis Indicates Potential for Growth
Bittensor (TAO) has shown a consistent pattern of rebounding from the $190 support level. After a recent drop, TAO bounced back to around $357, marking over a 100% recovery. Historical data indicates that previous rebounds from this level have led to rallies of 290% and 350%.
BlockDAG's $227.5M Presale and CertiK Audit Completed
BlockDAG (BDAG) is gaining serious attention as one of the most talked-about crypto projects this season. The project has officially passed its CertiK audit, and has raised over $227.5 million in its presale and sold more than 19.7 billion coins across 28 batches.
This week's cryptocurrency spotlight is split between three very different plays. Monero's price jump has reignited talks around privacy coins, and Bittensor is seeing renewed interest with the potential for significant growth.
