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Monero Price: XMR Gets A Perfect Start To The Year, +8%

03 january 2019, 01:11 by John Kiguru

Monero Gets A Perfect Start To The Year- Surges By Over 8%

The market has had one of the best starts of the year after ending the last couple of weeks of 2018 at an all-time low. For Monero, the performance in the last 24 hours has been a tad more special as it soared by over 8%. Among the top 20 coins on the market, this superb performance only comes second to Ethereum which is up by 11% at the time of press.

Many are optimistic that 2019 will be more positive than 2018 and they couldn’t have had a better start. The recent surge is expected to strengthen coins and boost investor confidence throughout the year.

The performance around the market has seen the total market cap climb above $130 billion, creating over $1 billion in the last couple of hours.

Fortnite and Monero

Monero’s surge comes off the back of some positive news. According to reports, Monero will become the newest means of payment for Fortnite online video game fans. Fans of this game will now be able to buy merchandise from the Fortnite Merch Store using Monero. The announcement is expected to push prices higher as the coin receives more exposure and continues to expand its adoption.

At the time of press, Monero has crossed over the $50 mark, one of its key levels. In the next couple of hours, Monero will look to retest the $55 position. The coin previously tested this position on the 24th of December when the market experienced a surprise surge that saw a majority of coins hit new highs. On top of boosting investor confidence, a position near the $55 position will additionally see the coin set a higher support level should prices correct.

Many experts have been calling for new highs in 2019 following the fall experienced towards the end of last year. Now, they will be happy to see prices begin climbing fast this early on in the year.

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