Monero (XMR) Price Jumps 50% Amid ‘Suspicious’ $330 Million BTC Transfer – Details
Summary
Monero (XMR) experienced a 52% price surge, reaching a four-year high of $347, following a suspicious transfer of 3,520 BTC valued at approximately $330.7 million. This transfer was linked to potential theft and involved laundering through multiple exchanges before being converted to XMR. The wallet's history suggested it belonged to a long-term Bitcoin holder, raising questions about the legitimacy of the transactions. Monero has retraced to the $250-$260 range but successfully retested the $214 support level. Analysts noted that if XMR maintains its current range, it could potentially break above the $300 mark, echoing its price movements from early 2021.
