San Francisco-based digital currency exchange Kraken opened the new year by adding privacy-focused cryptocurrency, Monero. While margin trading isn’t available yet, investors are currently allowed to trade Monero against bitcoin, euros and dollars.
Kraken said in their
announcement that
Monero is “one of the leading cryptocurrencies that has seen huge 40x market cap growth in 2016.”
Monero is one of the few digital assets that increased in value in tandem with Bitcoin’s rise to over $1100, while many other alternative digital currencies lost value over the same period. At the beginning of December, Monero was trading at 0.01176 against Bitcoin. Today, Monero is hovering around 0.0161!!
The privacy-centric Monero, which is in competition with other anonymous digital assets like Dash and Zcash for market share, is one of the top contenders for the next cryptocurrency to be added to Coinbase - one of the largest exchanges in the United States - according to a recent
Twitter poll conducted by Coinbase CEO Brian Armstrong.
There are also rumors on social media that Honk Kong-based exchange
Bitfinex may be adding Monero as well.
