Monero (XMR) is an interesting cryptocurrency. It rarely gets hyped like most other cryptocurrencies, yet it is one of the fundamentally strong coins. Under current market conditions where there isn’t much movement in prices, it is easy for Monero (XMR) to get skipped on by investors getting into crypto for the first time. However, Monero (XMR) happens to be one of the cryptos with the greatest potential in this market. Several factors support Monero as a top crypto, one that has the potential to make it big in the next crypto bull run.
For starters, Monero (XMR) is extremely good at its core functionality of privacy. Monero (XMR) is one of the best privacy coins in the market. A pointer to this is the high usage of Monero (XMR) in the darknet. The fact that it is popular in the darknet means that its core functionalities are perfect for making private transactions. This is a big market, and one that will only get bigger over time. That’s because people will always have the need to shield their transactions, the motives notwithstanding. That’s why offshore destinations are always on the rise, all across the world. In essence, the fact that Monero (XMR) is big in this market makes it a safe crypto investment in the long run. As its usage in the privacy market grows, Monero (XMR)’s demand will rise, and so will its long-term demand.
Linked to Monero’s privacy is its fungibility. The fact that a unit of Monero (XMR) has the same value as the next unit makes it a very powerful cryptocurrency. That’s because this aspect to it makes it money, just like fiat currency. The only difference being that it very scarce. The aspect of scarcity brings in the second strength to Monero, and that’s scarcity as a value driver.
Supply is one aspect to crypto that most people tend to overlook when analyzing the viability of cryptocurrency investments. However, cryptocurrencies are not immune to the laws of demand and supply. As such, cryptocurrencies that have a low coin supply have a better chance of performing better in the long run, due to demand chasing a fewer number of coins. Monero (XMR) is one of the coins with a low coin supply, just like Bitcoin (BTC). This makes it a good bet for the future, since it has a low coin supply, and other fundamentals to back it up.
On top that, Monero (XMR) has a strong community backing it up. Monero is ASIC resistant, and is completely community driven. This makes it one of the most decentralized cryptocurrencies in the market. This is important because, it means, Monero (XMR) cannot be censored, and that’s key to drawing in users in the long-haul.
With such fundamentals supporting it, Monero (XMR) comes off as a cryptocurrency that has some huge prospects for growth in the future. It is never hyped much, but its fundamentals place it in a good position to shine. It is a safe crypto to hold no matter how long the bear market lasts.