Future of Monero (XMR) and Chainlink (LINK): Will They Continue Uptrend?

Current price: $175.6

Market cap:$3.1B

Monero (XMR) is the most popular privacy-oriented cryptocurrency. The coin was created in 2014 to provide complete privacy protection in all currency system tools. Unlike Bitcoin, Monero’s superior encryption means a user’s transactions are impossible to trace; hence, their privacy remains intact. However, recently, Monero faced a major challenge after Binance, one of the largest exchanges, announced that it would delist Monero alongside other privacy coins. This measure aligns with Binance’s endeavors to align with international laws within its platforms.

The overwhelming support of the community behind Monero and the strong market interest in privacy-oriented digital currencies may help to maintain its price level. 

Source(tradingview): XMR/USDT 24 -hour price chart

Monero is trading at $175.25 , a 4.09% increase, and its 24-hour trading volume is $75 million. Moreover, Monero’s future is uncertain with respect to these regulatory issues. However, Monero is still able to maintain some of its loyal customers who are consistently drawn to privacy and security.

Chainlink(LINK) Continues to Thrive in the DeFi Sector

• Current price: $10.30
• Market cap:$6.2B

In 2017, Chainlink(LINK) was established and functions via a network of oracles, thus permitting secure blockchains that can accept external data, events, and payment methods. It is only logical that this technology has become indispensable for realizing smart contracts as the preferred mode of transacting. The increase in partnerships and integrations of Chainlink stands to cement its market position further .

Source(tradingview): LINK/USDT 24-hour price chart

At the time of writing, LINK was trading at $10.69 ,a 0.98% decline in the past 24-hours.

With the continued rise of the DeFi industry, Chainlink is anticipated to prove to be an important asset in decentralized finance. If Monero is still worrying about compliance, there is still some optimism for Chainlink moving forward, as it is adopting more projects and strengthening its presence in the blockchain world.