Monero (XMR) consistently ranks as the number of number privacy coin. Just recently, Charlie Lee said that Monero is one of the coins that he is interested in outside of Litecoin (LTC). Charlie said that what draws his interest in Monero (XMR) is its privacy and fugibility features. So what makes Monero (XMR) tick? What makes it consistently gain recognition as the number one privacy coin in the market?
One of the key factors that give Monero (XMR) its top position is its continuous efforts to improve on its privacy. For instance, Monero constantly does hard forks that are aimed at enhance its privacy. Actually, there is a hard fork coming up that is scheduled for the 18th of October. This fork will make Monero even more resistant to ASICs, while at the same time upgrading its privacy features. These regular upgrades have played a huge role in entrenching Monero (XMR) as the number one of privacy coin in the market.
Closely linked to this is the Monero (XMR) community. Monero has one of the best communities in crypto. The Monero community regularly funds projects that can help improve the Monero ecosystem. This active participation and a passion by the community has played a significant role in pushing Monero to the top, and sustained it there. One of the biggest projects by members of the Monero community is Tari Labs. Tari Labs is a free online university for blockchain developers. This university was established by Monero promoter Riccardo Spagni. Such projects play a huge role to the overall growth of the Monero ecosystem, and as they increase in number, will play a huge role in maintaining Monero as the best privacy coins in the market.
But what does Monero (XMR) being the top privacy coin mean for investors? Well, it means that Monero (XMR) is a safe investment, one that has the potential to make huge gains going into the future. That’s because in any market, money tends to flow towards the dominant player. In the case of the privacy market, the industry will ultimately consolidate towards the best coin, and this will be a huge boost to the value of Monero going into the future. That’s because the moment users establish that Monero is the best in this market, there will be no real demand for the rest. This could give Monero (XMR) the push to hit valuations of $1000 or more.
The best part about the market consolidating around Monero (XMR) is that this is a market that will only get bigger over time. It will grow because the need for privacy will only get bigger over time. That’s because the need for privacy in the finance world, is huge, and will only get bigger over time. As such, by emerging as a top player in this market, Monero could emerge as a disruptive force, one that could see it take on off-shore tax destinations and win. This is a trillion dollar market that could see Monero (XMR) hit highs that were never thought possible in the past.