One thing that’s obviously on crypto investors’ minds right now is privacy. As government interests pivot toward digital currency, and the ways in which it can be controlled, investors are looking to cycle their investments. Cryptos like Bitcoin (CCC:BTC-USD) are being overlooked in favor of those like Monero (CCC:XMR-USD). Now, the XMR crypto is turning into one of the most popular investments as we close out 2021. As such, all eyes are on Monero price predictions.
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There’s a lot to look forward to for the future of crypto in terms of technical progress. Who knows where crypto might go with the thousands of talented developers pushing projects to new frontiers? And yet, there’s also a lot of anxiety for the next year. More governments are wising up to the asset class. Of course, this leads to a desire for regulation and taxation.
Take China’s regulatory actions for example. The nation continues to levy very harsh blows to the crypto market, even barring its citizens from trading digital currencies at all. Other major global powers are now starting to get their grip on the industry as well. India is also looking to ban its citizens from making crypto payments. Not to mention, the U.S. is also looking to regulate and tax cryptocurrency gains; lawmakers have met for sessions discussing the role of crypto in the future of the country.
Monero Interest Surges as XMR Fulfills Privacy Niche
Crypto buyers don’t want government hands on their assets, especially while there is no infrastructure in place that benefits these holders. As such, investors are cycling their investments into cryptos focusing primarily on privacy. Monero is one such crypto that’s filling this niche, providing some of the most secure and private crypto transactions available. As such, XMR transactions are on the up, and Monero price predictions are a hot topic.
Monero utilizes a number of different security measures by which it keeps its transaction data private. Through its own unique of stealth addresses and cryptographic signatures, the network promises to keep its transactions 100% private and anonymous. Not to mention, it lauds its funds as entirely untraceable. Naturally, the XMR coin is a great fit for those investors looking for privacy.
As such, Monero is seeing a fair bit of gains. In the past week, XMR is up over 15%; it’s currently trading at over $206 per coin. Moreover, trading volume continues to thrive. Today alone, the XMR coin is seeing a 50% increase in transaction activity by volume.
Monero Price Predictions: Can XMR Continue up in 2022?
Seeing investors flood into Monero this week, there’s a lot of interest in the future of XMR. Is Monero fit to continue upward through the next year? Let’s take a look at some Monero price predictions and see what analysts are thinking:
- CoinPriceForecast thinks there’s plenty room for Monero to grow over the next 12 months. The outlet predicts XMR to be worth $260 at the end of 2022.
- DigitalCoinPrice is even more bullish. The site is anticipating a price of $335 at the end of 2022.
- WalletInvestor is similar in its own prediction, expecting the coin to reach $321 in the same period.
- Most bullish is Gov Capital, expecting XMR to nearly double over the next year. The site is targeting a price of $379 for the coin.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.