Monero (XMR) Increased by 50%, Here’s The Actual Reason Behind the XMRUSDT Surge

Monero jumped 50% to $388 following a $330M Bitcoin breach. The stolen Bitcoin was exchanged for XMR, causing a supply-demand disruption. Will the XMRUSDT ascent persist?

In a surprising development, XMR, the crypto asset supporting the privacy-centric Monero platform, skyrocketed 50%, hitting $388 as per Binance data.

At this rate, not only did the XMRUSDT pair become the top-performing crypto token, surpassing even some of the leading Solana meme coins, but the increase in price underscored Monero’s significance within the larger crypto ecosystem.

(XMRUSDT)

With XMR prices climbing, analysts and traders were quickly trying to identify the trigger for the surge. It became apparent that the rise to $388 was caused by a significant BTC exploit. An original address lost 3,520 BTC, valued at over $330 million today.

As outlined by blockchain investigator ZachXBT, the stolen stash was promptly converted to XMR, instigating a supply-demand disruption in the Monero crypto market.

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XMRUSDT Soaring After Significant BTC Swap?

Today, ZachXBT highlighted a wallet belonging to an established Bitcoin holder suspected of actively utilizing Gemini, River, or Coinbase to transfer funds.

Funds were directed to the address bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g, which ZachXBT flagged as a theft location.

Nine hours ago a suspicious transfer was made from a potential victim for 3520 BTC ($330.7M)

Theft address
bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g

Shortly after the funds began to be laundered via 6+ instant exchanges and was swapped for XMR causing the XMR price to spike…

— ZachXBT (@zachxbt) April 28, 2025

Within hours, the misappropriated assets were routed through six instant exchanges and converted to XMR, a protocol acclaimed for its features that enhance transaction privacy.

This sizeable conversion of BTC to XMR prompted a rapid surge in demand, elevating prices to $388. Coincidentally, some of the most exciting presales for 2025 are also gaining traction.

The swift influx of resources into the XMR trading market, known for its limited market fluidity, intensified price swings, resulting in the 50% price increase.

Overall, the liquidity in XMR markets remains low following delistings by Binance and Coinbase.

Binance will delist #Monero in less than 12 hours. @binance also has Monero withdrawals halted for the past several hours citing “low hot crypto wallet balance”

Why would they not have ALL of their XMR in hot wallet knowing their delisting schedule?

Manipulation til the last minute. pic.twitter.com/lROoduXCuS

— ᴜɴᴛʀᴀᴄᴇᴀʙʟᴇ (@DontTraceMeBruh) February 19, 2024

The primary exchanges that support XMR include Kraken (accessible for non-European users) and Bitfinex.

At Kraken, the typical daily volume is below $20 million. In contrast, XRP, which is listed on leading exchanges, averages over $500 million in daily volume on Binance alone.

Why Choose Monero?

In contrast to BTC or ETH, Monero transactions are inherently private and cannot be tracked.

The network utilizes features like stealth addresses and ring signatures, making it challenging for external parties to monitor transactions.

 

 

These traits position XMR as the favored token for users emphasizing privacy and, regrettably, for those attempting to launder funds.

In this instance, the hacker’s strategy of exchanging small quantities of pilfered Bitcoin for XMR through six different exchanges indicates a desire to elude detection.

By dividing transactions and using instant exchanges, the involved address incurred higher fees yet achieved enhanced privacy.

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The post Monero (XMR) Up 50%, Here’s The Real Reason Why XMRUSDT Is Pumping appeared first on 99Bitcoins.