Family, it's been a long time coming! The 11-year-old antique privacy coin Monero ($XMR) suddenly went crazy, surging 30% in a single day to reach $329, hitting a new high since 2021! This move left everyone stunned; how did it suddenly take off?

Monero was born in 2014 and uses advanced technologies like ring signatures and stealth addresses to keep transaction information tightly concealed, earning praise even from Bitcoin giants for its code. However, while it excelled in anonymity, it also became a thorn in the side of regulators, unable to satisfy anti-money laundering and anti-terror financing requirements due to its high level of concealment.

This coin is truly two-faced! On one hand, it boasts strong privacy and decentralization, hailed by geeks as the 'key to freedom,' with antivirus software mogul John McAfee and 'Bitcoin Jesus' Roger Ver as loyal fans; on the other hand, it has also become a favorite among criminals. After the 'Silk Road' was shut down in 2016, the dark web and hackers all turned to it for money laundering; by 2020, the terrorist organization ISIS had also switched to using it for fundraising, with its price skyrocketing from $50 to $150 that year.

As for the reason behind this surge, some insiders revealed that $330 million in Bitcoin was laundered for Monero, leading to a short squeeze that pushed the price up. Others are betting on its EP159 and EP160 upgrade proposals, which are said to enable it to re-enter major compliant exchanges, coupled with the launch of Monero's first DeFi project Tari on May 6, creating high expectations within the community.

Monero is like a 'two-sided mirror' of cryptocurrency, reflecting both the light of freedom and the shadows of crime. Technology itself is not guilty; it is human intentions that divide good from evil. Is this a hype or a revaluation of value? Let's sit back and continue to enjoy the spectacle!