Monero, one of the world’s most valuable privacy-focused networks, is under immense selling pressure. XMR, its native currency, is down 11% from this week’s highs, extending losses from June 2024. Overall, XMR remains in a bullish formation, shaking off weakness from Q1 2024, when the coin fell due to compliance reasons. Several exchanges, including Binance, chose to delist Monero and other privacy coins, citing the need to adhere to laid-out laws, mainly in the United States. Boosting Privacy Features On Monero Through FCMP++ Despite the recent sell-off, the Monero community remains upbeat. On August 20, Monero developers said a pull request was made to integrate Full-Chain Membership Proofs (FCMP++). The feature further enhances Monero’s privacy, making it attractive for users who wish to conceal their on-chain transactions. Related Reading: New Memecoin Popcat Claws Its Way Up, Dominates Top 100 Cryptos With 62% Rally Before this update, Monero relied on Ring signatures to hide the sender’s identity. To do this, Monero obfuscates each transaction so that it appears to be sent from a group of potential senders. Unlike Bitcoin, w ..
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