Monero (XMR) price found a balance at $108 after the overarching declines in June. The trend changed positively heading into July and XMR/USD maintained trading higher highs until the last weekend when a great bearish wave swept across the market resulting in virtual currencies trimming gains. Monero began the week’s trading marginally below $140 but succumbed to high selling activity where the crypto tested the support at $120.00.
In other news, Monero (XMR) has been added to Tutanota following requests from the company’s customers. The donation platform already accepts Bitcoin (BTC), Bitcoin Cash (BCH) as well as Ethereum (ETH). Besides the cryptos, Tutanota also allows its customers to donate using PayPal and bank transfer systems. Monero is ranked the 13th cryptocurrency with a market capitalization of $2 billion.
Tutanota is a privacy-focused email provider based in Germany. The company is on a mission to ensure that people across the world have access to secure and private emails. The service is an open-source end-to-end encrypted email software. The company only relies on donations, moreover, it offers premium packages to support its operations. Tutanota according to the website:
“Automatically encrypts all your data on your device. Your mails as well as your contacts stay private. You can easily communicate with any of your friends end-to-end encrypted. Even subject and attachments as well as all your contacts are encrypted.”
The support for Monero (XMR) now gives Tutanota’s customers an extra payment method. However, there have not been any comments from both Monero and Tutanota’s teams accept the announcement which read, “ Tutanota now accepts #Monero for donations!”
Monero price has been lagging reaction lately. On July 3, BitBay exchange communicated that it was going to add XMR on its list of tradable instruments. The trading will be taking place using XMR/BTC, XMR/PLN, XMR/EUR and XMR/USD pairs.
The peer-to-peer file sharing website, Pirate Bay has made its users aware that it is going to be mining Monero (XMR) using their CPU power. Pirate Bay is not new to mining cryptocurrencies, it has been doing so according to a technical report from Bleeping Computer using Coinhive. The notification on the website says:
“By entering TPB, you agree to XMR being mined using your CPU. If you don’t agree please leave now or install an adBlocker.”
Monero is attractive due to its privacy features that ensure that transactions on the platform remain anonymous, and therefore cannot be tracked. The protocol utilizes specialized cryptography to hide the status of transactions from the public, but at the same time, giving the users control over their funds.
The crypto market is struggling to detangle from the selling pressure that has dominated since the week started. Bitcoin (BTC) is trading at $6,344 after breaking the support at $6,400. Ethereum (ETH) is flirting with $433 but the trend is still bearish. Ripple (XRP), on the other hand, is up a subtle 0.34% on the day while trading at $0.444. Monero (XMR) is among the biggest daily gainers with a 2.11% jump on the day while Bitcoin Cash (BCH) is up 1.3% and exchanging hands at $695. The trend is similar for the majority of the top 20 cryptocurrencies by market capitalization.