300 million dollars worth of Bitcoin was laundered, XMR surged 50%!!!
Nine hours ago, a mysterious large holder transferred out 3,520 BTC (approximately 330 million dollars), and then quickly laundered the funds through more than six instant trading platforms, ultimately converting a large amount into Monero (XMR). In response, the price of XMR surged 50% in a short period.
Monero has become the top choice for laundering funds due to its high privacy, which is a double-edged sword for the crypto community. On one hand, XMR once again proves the importance and necessity of privacy coins; on the other hand, excessive abuse could trigger crackdowns from regulatory bodies like the United States, potentially bringing pressure to the entire privacy coin sector in the future.
Privacy and freedom are the soul of cryptocurrency, but if regulatory pressure increases, the market is bound to experience fluctuations. Behind the short-term surge lies the seed of heightened volatility.
