The Monero price (XMR/USD) has gained some momentum in today’s afternoon session, after falling to an intraday low of $116.60 in the morning session. The privacy-focused cryptocurrency is currently down from yesterday’s closing level, but it has gained about 1% two percent over the past 24 hours, according to data from Coinmarketcap.
Monero’s 24-hour trading currently stands at $57 million, with Bithumb accounting for 40% of the global market activity. South Korea’s leading cryptocurrency exchange started trading Monero on August 27 and the listing has already been a big boon for the coin. And now it appears that Monero has received support from another big provider of cryptocurrency-related products.
On Tuesday the leading cryptocurrency hardware wallet maker Ledger announced that it had begun Monero integration on some of its products, online publication The Merkle has reported. The first phase of the Ledger development team’s plan is to release alpha code for Monero integration on the Nano S and Ledger Blue hardware wallets. This is expected to happen by the end of September.
Monero had previously lacked support from major platforms, which was hindering its growth potential. But with Bithumb and now Ledger backing the cryptocurrency it may finally get the exposure it needs.
In today’s trading, the Monero price stood at $120.06, as of 17:40 BST. The cryptocoin has gained 0.6% over the past 24 hours and it currently has a total market capitalisation of just over $1.8 billion.
For further information on how to buy and trade Monero, see our comprehensive Monero guide.