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A popular crypto analyst is naming the top five most decentralized cryptocurrencies.
In a new video, Coin Bureau host Guy tells his 2.05 million subscribers that Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC) and Monero (XMR) are the most decentralized cryptos.

“There are five layers of decentralization in cryptocurrency: the developer layer, the coin or token layer, the infrastructure layer, the blockchain layer and the external layer. I’ll start by saying that there’s no crypto project that scores perfectly on all five criteria but the top spot seems to belong to Bitcoin. 
This is because there are dozens of individuals and institutions building on Bitcoin. BTC supply is broadly distributed, there is no shortage of infrastructure available to interact with the Bitcoin blockchain and the Bitcoin blockchain has over 15,000 full nodes. 
The only thing Bitcoin is missing is true decentralization at the external layer, but this is where every cryptocurrency fails and I suspect not everyone would agree that this even counts as a layer.
In any case, according to a survey of various crypto experts by Cointelegraph last November, there aren’t any cryptocurrencies that come close to matching Bitcoin’s overall decentralization.”
He says Ethereum, Monero, Litecoin and Dogecoin follow Bitcoin and are still lacking in some aspects of decentralization. In the case of Monero, the privacy coin also faces regulatory issues.
“Ethereum and Monero seem to be the runners-up but as I discussed earlier, Ethereum’s decentralization still seems to be lacking on some layers. As for Monero, XMR is constantly at risk of getting delisted from centralized exchanges due to unreasonable crypto regulations.
 There’s also Litecoin and, to some extent, Dogecoin, to consider but we all know these cryptocurrencies are also lacking decentralization at some layers, to put it mildly.”
The analyst says that it is still too early to identify the other most decentralized cryptocurrencies, but he sees the possibility of Cardano (ADA), Polkadot (DOT) and Solana (SOL) being included in the list.
“By now, you’ll have noticed that most of the more decentralized cryptocurrencies have been around for a while and many believe that it’s ultimately time that has allowed Bitcoin to decentralize so much. What this means is that it might still be too soon to say what the most decentralized cryptocurrencies are, but I have a feeling that Cardano, Polkadot and possibly even Solana will be the next runners-up.
At this rate, it looks like we will only find out for sure when the regulators come around and given the exponential rate of crypto adoption, it’s only a matter of time before they come unlocking.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.



Featured Image: Shutterstock/IvaFoto/MrArtHit/Natalia Siiatovskaia
The post Bitcoin, Ethereum, Dogecoin and Two Additional Altcoins Are the Most Decentralized Crypto Assets: Coin Bureau appeared first on The Daily Hodl.


A popular crypto analyst is naming the top five most decentralized cryptocurrencies. In a new video, Coin Bureau host Guy tells his 2.05 million subscribers that Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC) and Monero (XMR) are the most decentralized cryptos. “There are five lay...

dailyhodl.com

Bitcoin, Ethereum, Dogecoin and Two Additional Altcoins Are the Most Decentralized Crypto Assets: Coin Bureau

Despite BTC and ETH trading lower on Monday, several cryptocurrencies managed to move higher to start the week. XMR was one of the biggest climbers, with solana also moving higher during the session. 
Monero (XMR)
XMR was one of Monday’s biggest gainers, as prices rose by almost $20 from lows during Sunday’s session.
Following a low of $128.00 on Sunday, XMR/USD rallied to an intraday high of $174.62 to start the trading week.
Monday’s top came as prices surged for four consecutive sessions, hitting a near one-week high in the process.

Since these highs earlier in the day, XMR is now trading marginally below a ceiling of $173.00, as bullish strength faded as the day progressed.
The 14-day RSI is now trading at a resistance level of its own, which is below 43.14, and should it break, we could see XMR break resistance for the first time since March.
Should this happen, prices could move closer to the $200 region. A point which monero last hit only eight days ago.

Solana (SOL)
Following three consecutive sessions of gains, SOL was also higher to start the week, however prices declined as the day progressed. 
On Sunday, SOL/USD finished the day trading at $53, and went on to hit a peak of $58.88 during the early part of Monday’s session.
Since then, prices have slipped, and as of writing SOL is currently trading at a level of $52.32, which is close to a one-week low.

Overall, SOL has dropped by over $100 since the beginning of April, with prices dropping below $35 last Thursday.
Looking at the chart, the 14-day Relative Strength Index is now tracking at 33.26, which is marginally below a ceiling of 36.
Bulls are likely going to attempt to push prices towards $70, if price strength moves past the current obstacle in the RSI. 
Could we see runs higher in upcoming sessions? Let us know your thoughts in the comments.



























Despite BTC and ETH trading lower on Monday, several cryptocurrencies managed to move higher to start the week. XMR was one of the biggest climbers, with solana also moving higher during the session. Monero (XMR) XMR was one of Monday&#x2019;s biggest gainers, as prices rose by almost $20 from lo...

news.bitcoin.com

Biggest Movers: XMR and SOL Higher on Monday

Popular privacy coin Monero (XMR) has been on a rally since the start of 2022. The cryptocurrency appears to be moving on its own as the crypto market trends sideways.
Related Reading | Monero And Zcash Take Off With 15% Gains, Here’s What May Have Spurred The Rally
Recently, XMR bulls are displaying more strength. At the time of writing, XMR trades at $285 with a 6% profit in 24 hours, a 34% and 50% profit in the last two weeks and 30-days, respectively.
 XMR on an upward trend on the 4-hour chart. Source: XMRUSDT Tradingview
As announced by one of Monero’s maintainers via a post, the network will undergo an upgrade on July 16th, 2022, at the height of block 2.6 million. The “Fluorine Fermi” update will introduce new features to the network.
As the developer stated, Monero will increase its ring size from 11 to 16. The ring size is a term to refer to the total number of signers in an XMR transaction. As part of this network’s unique model, the update will provide users with more base privacy.
In addition, the network will implement an upgraded version of its Bulletproofs algorithm to decrease its transaction size by around 7%. This change is supposed to improve the network’s scalability by making “every transaction lighter and faster”.
On the latter, the network will reduce the wallet’s sync time by around 30 to 40%, the post said, and will implement a change to Monero’s fee model. Thus, users can expect to see an uptick in the network’s “security and resilience”.
As the update will be deployed via a Hard Fork, users and node operators will need to update their software. The maintainer made the following request to the users:
A new release will be announced before the network upgrade (around the 16th of June). You will only have to be using the updated software by the time the network upgrade occurs (16th July). To the end user, it will be like a simple software update.

#Monero will undergo a network upgrade on July 16th, 2022:https://t.co/9NKlGtqXAn
All users will need to do is keep their favorite wallet up to date, update their nodes once v0.18 is released (~June 16th), and enjoy even better digital cash afterwards 
— Monero (XMR) (@monero) April 20, 2022

Could Monero Be Spelling Danger For The Crypto Market?
It’s possible that Monero’s recent price action is due to its upcoming network update. As mentioned, they are substantial and will provide the users with interesting new features.
Data from Material Indicators (MI) records an increase in buying pressure from retail investors during April. At the same time, investors with ask orders larger than $10,000 have been selling into the rally. Unless larger investors classes step in, XMR could be at risk of a short-term decrease.
 Retail (in yellow on the chart) buying into XMR’s price rally as larger investors sell or stay neutral. Source: Material Indicators.
Related Reading | Monero (XMR) Price Slides As Canada Includes Crypto In Emergencies Act
Additional data provided by Jarvis Labs indicates a potential danger for the entire crypto market. According to their “Dino Index” (comprise of Ethereum Classic, Zcash, Litecoin, Bitcoin Cash, and others), a metric to track the performance of these assets to show their inverse correlation with the crypto market, there could be some obstacles ahead. Jarvis Labs said via their Telegram Channel:
Quite evident that majority of the time when these dino coins rise and btc rises, better to look at profit taking or hedging the risk and look for market tops.
 Source: Jarvis Labs via Telegram


Popular privacy coin Monero (XMR) has been on a rally since the start of 2022. The cryptocurrency appears to be moving on its own as the crypto market trends sideways. Related Reading &#124; Monero And Zcash Take Off With 15% Gains, Here’s What May Have Spurred The Rally Recently, XMR bulls are d...

newsbtc.com

Monero Soars 50% As Crypto Market Weakens, What’s Behind the Rally?

The privacy coin Monero (XMR) is leaving most of the crypto market in the dust.
XMR, the 34th-ranked crypto asset by market cap, is trading at $272.05 at time of writing, up more than 76% in the past two months.

Compared to Bitcoin (BTC), which is up about 7.7% over the same time period, and Ethereum (ETH), which is up about 17.3%, Monero is leading the pack.
Monero has some big developments on the horizon, recently announcing it will undergo a network upgrade on July 16th. The hard fork aims to improve the network’s security, privacy, performance and overall resilience while keeping its proof of work consensus protocol.
Among other new features, an upgraded “Bulletproofs+” algorithm is designed to reduce the typical transaction size by about 5-7%, as well as improve typical verification performance by around the same percentage. Wallet sync times are also intended to reduce by 30-40%.
Monero is up 7.4% in the past 24 hours and nearly 16% compared to where it was priced one week ago.
XMR isn’t the only privacy coin that’s witnessed gains over the past couple of months. Zcash (ZEC) is up by about 56% since February 20th, with popular analyst Altcoin Sherpa recently saying ZEC is primed to continue its rally in a strong way.
“ZEC: No clear trend on the ZEC/BTC pair, higher lows and lower highs. Potential breakout depending on how you interpret it. The ZEC/USD pair looks great still, and I think it goes to $250 eventually.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.



Featured Image: Shutterstock/cosmoman/WindAwake
The post Privacy Coin Monero (XMR) Outperforms Most of the Crypto Market Ahead of Upgrade appeared first on The Daily Hodl.


The privacy coin Monero (XMR) is leaving most of the crypto market in the dust. XMR, the 34th-ranked crypto asset by market cap, is trading at $272.05 at time of writing, up more than 76% in the past two months. Compared to Bitcoin (BTC), which is up about 7.7% over the same time period, and [&#8...

Privacy Coin Monero (XMR) Outperforms Most of the Crypto Market Ahead of Upgrade

A surge in ransomware in 2021 has also resulted in a surge in Monero usage as the method of payment as more criminal groups want only XMR.  

Monero price	$174.04
Low - High 24H	$171.15 - $180.92
Market cap	$3.15B
Volume 24H	$122.67M
All time high	$542.33 -67.95% January 9th 2018
All time low	$0.216177 80312.03% January 14th 2015
Genesis date	N/A

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