Monero Jumps 6% and Into Top Ten: Monerujo Wallet Update Rollout

Monero (XMR) is up over 6% over the last twelve hours, as it enters a reversal from weekly losses of 22%. Despite the overnight growth, the current coin price takes Monero back to lows last seen on November 6th, 2017.

At the same time Monero has leapfrogged a few coins ahead of it to propel itself up the rankings, and may be feeling renewed interest with the rollout of Monerujo 1.6.3 in the last couple of days.

Monero Jumps Into Top Ten

Regardless of the current ten month lows, Monero has climbed several places up into 10th spot in market cap rankings, overtaking TRON and IOTA in the process.

Monero’s surge was triggered at 02:30 UTC, sending XMR on a growth spurt which took it from $91.68 to the current price of $97.28, which continues to climb. During this time Monero’s daily volume increased by just under five million, after the same sum had been wiped off the average total from earlier in the week.

Market cap rankings now position Tether in 9th place, with USDT seeing daily volumes of $4.9 billion in the last twenty-four hours – a volume beaten only by Bitcoin. As TRON and IOTA slid down the rankings and out of the top ten, each saw their prices stretching further back into 2017. NEO in particular has now reverted to last September’s prices, and fallen to 15th spot despite threatening the top ten for most of 2018.

As detailed earlier in Hacked, BTC dominance has now exceeded 50% for the first time since December, and daily volumes have climbed to $17 billion in the last week – up 54% from the volume of $11 billion recorded seven days ago.

Monerujo Wallet Update

Monerujo is the android wallet for storing Monero coins and was the first mobile app to do so. A few days ago the Monerujo team took to twitter to announce that the Ledger Nano S hardware wallet could now be interfaced with light wallet app.

The 1.6.3 update adds a new feature – NFC (near field communication) support, as well as more language translations, and multiple bug fixes.

The NFC feature in particular, coupled with the hardware wallet support, makes the process of transacting payments a tad easier. Near field communication is used for transferring data between two electronic devices at short range, and Monerujo allows it to be used in much the same way as a QR code. With the Ledger wallet hooked up to the light wallet, a user could scan the appropriate code and see the tx processed directly through the hardware wallet.

Anything that makes Monero more approachable to the average user must be seen as a plus for coin, as it continues to find itself at the center of controversies surrounding its illicit mining.

Featured image courtesy of Shutterstock. 

Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.