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XMR increased by 20% after the implementation of Atomic Swaps. What will they allow?

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Monero (XMR) is the largest privacy-oriented cryptocurrency by market capitalization. It recently noticed after running the implementation program Atomic Swap last week a price increase of 20%.

Monero project officially announced implementation of the Atomic Swap implementation developed using the COMIT cross-blockchain protocol. The goal is simplify trades between XMR and BTC.

Following the launch of Monero Atomic Swaps, XMR has risen and its price has risen from approximately $ 265 on the launch day to $ 331. At the time of writing, the privacy cryptocurrency is trading at $ 314. This is 2.4 percent decline in the last 24 hours. After a strong upward trend, XMR has increased by more than 50% in the last 30 days.

XMR / USD 4H.  Source: TradingView
XMR / USD 4H. Source: TradingView

Good news for XMR

Newly introduced swap deployment is a completely new technology. Allows users exchange BTC and XMR without having to rely on a trusted third party, such as the crypto exchange. These swaps are called atomic because they have only two possible outcomes. Either the trade is successfully completed and everyone receives the other’s funds, or nothing happens and both traders keep the funds.

According to the announcement, users can now continue testing Atomic Swaps by downloading software designed by COMIT. New swaps may have unexpected errors and testing with small amounts is recommended.

Monero, which was launched in 2014, is a major cryptocurrency aimed at protecting privacy. It is designed to support private and untraceable transactions.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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