This week has been somewhat favorable to digital currencies and the entire cryptocurrency space. Most currencies are traded in green, while others see an increase in their volume. On Monday, many Monero traders were surprised by the huge increase in Monero’s trading volume.
Recently, most crypto enthusiasts were surprised when Monero’s trading volume increased by 500% in three days. Monero is the first digital currency focused on the privacy of the world, making it a preferred choice for many pieces.
The reason for the increase in the volume of transactions
The reason why Monero’s trading volume has increased so much that Coinmarketcap.com has decided to list Bithumb’s trading volume. Bithumb is one of the most popular digital currency trading platforms in Korea. 85% of the volume of operations of Monero worldwide.
However, the sudden and huge increase in the volume of digital currency transactions has not affected its value. In fact, coinmarketcap.com was already considering the value of Bithumb.
Monero is one of the most dominant currencies in Korea
Monero’s largest trading volume is indexed to the Korean won (XMR / KRW), according to coinmarketcap.com. The pair of transactions has a trading volume of $ 81 million as of October 8, which represents 85% of the total volume of transactions in digital currency at that time.
Monero is very popular in North Korea, according to CNBC. The digital currency makes it easier for North Koreans to move around the United States and the United Nations.