$BTC #monero

What is the reason for the increase

The well-known crypto detective ZachXBT linked the increase of Monero to a suspicious transaction amounting to about 3520 BTC ($330 million), made on Sunday. According to him, the funds were stolen and quickly converted into Monero through several cryptocurrency exchanges. Thus, the increase is explained by low liquidity, which allows large transactions to significantly impact the price.

Analysts also noted that there are less costly ways to exchange bitcoins for Monero that the owner could have used if the transactions were not thefts.

"For an ordinary person, such purchases are unprofitable," noted ZachXBT, adding that participants in the exchange of bitcoins for Monero would lose seven-figure sums just on fees.