Should you buy Monero after the Atomic Swap Implementation?

Monero XMR/USD is privacy and anonymity-focused cryptocurrency. It essentially allows users to send and receive transactions without making the data available to anyone that examines the blockchain itself.

On August 20, Monero announced that the Atomic Swap implementation, which was developed by the COMIT team, got mature enough to the point to be used on the Monero network.

Initially, makers have to buy Bitcoin, while takers have to buy Monero. However, anyone has the opportunity of becoming a marker or a taker.

That being said, following this Atomic Swap Launch, XMR saw a surge in value. 

This newly introduced technology allows users to exchange BTC and XMR without relying on any third party, such as a cryptocurrency exchange. 

There can only be two outcomes, either the trade is successfully completed, and each trader gets the other one’s funds, or nothing happens, and both of them keep the funds they started with.

On August 24, Monero (XMR) had a value of $320.

To get a perspective of this price point, we will be comparing it to its all-time high as well as its performance throughout July.

In terms of the all-time high value, it was $542 and occurred on January 9, 2018. This made it 69% higher in value.

Its lowest point occurred on July 20 with a value of $179, while its highest point was on July 31 with a value of $247. This marked a growth of 38%.

In any case, the value on August 24 is still 30% higher than its value on July 31, a growth initiated by the Atomic Swap Implementation.

Monero is privacy-focused, and Atomic Swap is this new way of exchanging two cryptocurrencies without relying on a third party such as an exchange or a company.

You can make swaps without the need to trust the person on the other side of the swap, and as such, we can see a massive increase in its usage.

This update has increased the value of the token tremendously, and it is clear that it is showing no signs of stopping.

This being the case, Monero (XMR) has the potential to reach $400 by the end of September, making it a worthwhile purchase. 

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