Is it the right time to buy Monero crypto?
ScoreAs of June 2024, Monero (XMR) trades near $155, with daily trading volumes recently hovering above $80 million—a testament to its ongoing relevance in the crypto landscape. Recent months have seen Monero benefit from the 'Haveno' decentralized exchange integration, increasing both utility and accessibility, while the rollout of the long-anticipated 'Seraphis' protocol upgrade promises greater scalability and privacy features. Regulatory conversations in Canada and globally have introduced some uncertainty, but so far, the community and developers have shown remarkable adaptability. Market sentiment is notably constructive: privacy remains a valued trait in the digital asset space, especially as broader DeFi and NFT sectors face challenges related to transparency and compliance. For Canadian investors, Monero stands out for its consistent network upgrades and its unwavering focus on confidentiality. The consensus among 29 respected national and international analysts sets the next price target around $225, suggesting significant upside potential. Amid the inherent market volatility, Monero offers a unique combination of mature technology and growing sector opportunities—a perspective increasingly echoed within the local investment community.
- ✅Unmatched privacy protocols integrated in core transactions
- ✅Continuous development and frequent technical upgrades
- ✅Active and resilient global community driving adoption
- ✅No central authority, truly decentralized governance structure
- ✅Strong utility case in cross-border and peer-to-peer payments
- ❌Occasional exchange delistings due to regulatory uncertainty
- ❌Less mainstream adoption compared to larger-cap cryptocurrencies
- ✅Unmatched privacy protocols integrated in core transactions
- ✅Continuous development and frequent technical upgrades
- ✅Active and resilient global community driving adoption
- ✅No central authority, truly decentralized governance structure
- ✅Strong utility case in cross-border and peer-to-peer payments
Is it the right time to buy Monero crypto?
Score- ✅Unmatched privacy protocols integrated in core transactions
- ✅Continuous development and frequent technical upgrades
- ✅Active and resilient global community driving adoption
- ✅No central authority, truly decentralized governance structure
- ✅Strong utility case in cross-border and peer-to-peer payments
- ❌Occasional exchange delistings due to regulatory uncertainty
- ❌Less mainstream adoption compared to larger-cap cryptocurrencies
- ✅Unmatched privacy protocols integrated in core transactions
- ✅Continuous development and frequent technical upgrades
- ✅Active and resilient global community driving adoption
- ✅No central authority, truly decentralized governance structure
- ✅Strong utility case in cross-border and peer-to-peer payments
- Monero in brief
- How much does 1 Monero cost?
- Our complete review of the cryptocurrency Monero
- Recent Performance & Market Context
- Technical Analysis
- Fundamental Analysis
- Investment Strategies (Time Horizons)
- Monero Price Predictions: 2025–2029
- Is Now the Right Time to Consider Monero?
- How to buy Monero?
- Our 7 tips for buying Monero
- The latest news about Monero
- FAQ
Monero in brief
| Indicator | Value | Analysis |
|---|---|---|
| 🌐 Blockchain of origin | Monero (XMR) | Monero uses its own blockchain, designed for privacy and anonymity. |
| 💼 Project type | Privacy Coin / Layer 1 | Monero is a privacy-focused Layer 1 blockchain and cryptocurrency. |
| 🏛️ Creation date | April 2014 | Monero has been operating for over a decade, with solid reputation. |
| 🏢 Market capitalization | ~$2.9 billion USD | Monero ranks among the top privacy coins by market capitalization. |
| 📊 Capitalization rank | #27 | Monero is a mid-cap crypto, but leads in the privacy niche sector. |
| 📈 24h trading volume | ~$59 million USD | Daily trading volume shows consistent liquidity across exchanges. |
| 💹 Total tokens in circulation | ~18.4 million XMR | Monero has a mostly stable supply, with modest tail emission planned. |
| 💡 Main objective | Digital privacy and untraceable transactions | Monero enables private, untraceable, and fungible digital payments. |
How much does 1 Monero cost?
The price of Monero is rising this week. As of today, Monero (XMR) is trading at CA$235.10, reflecting a 24-hour increase of 1.8% and a 2.4% gain over the past week. Its market capitalization stands at CA$4.32 billion, securing the 27th spot among all cryptocurrencies, with a circulating supply of approximately 18.45 million XMR.
| Metric | Value |
|---|---|
| Current Price (XMR) | CA$235.10 |
| 24h Change | 1.8% |
| 1-Week Change | 2.4% |
| Market Cap | CA$4.32 billion |
| Market Rank | 27th |
| Circulating Supply | 18.45 million XMR |
| Average Daily Volume (3 months) | CA$75 million |
| Market Dominance | 0.18% |
Monero’s privacy-focused approach keeps it in the spotlight as a compelling option within the highly dynamic crypto landscape.
Our complete review of the cryptocurrency Monero
After analyzing the latest Monero trends and its three-year evolution, we leveraged proprietary algorithms that synthesize on-chain data, technical signals, market flows and a refined competitive framework. This holistic, multi-source approach brings clarity to XMR's resilient positioning within the ever-adaptive privacy coin market. So, why might Monero be poised to re-emerge in 2025 as a strategic entry point within the decentralized value transfer ecosystem?
Recent Performance & Market Context
Price Evolution
Over the past 36 months, Monero (XMR) has shown remarkable resilience amid volatile crypto cycles. As of June 2024, XMR trades near 170 USD, having absorbed downward pressure following sector-wide deleveraging and regulatory scrutiny, particularly targeting privacy-focused assets. However, XMR’s correction has stabilized above structural supports seen at 120–140 USD, highlighting sustained interest from core holders and high-net-worth buyers.
Q1 and Q2 of 2024 indicated steady capital inflows, with XMR outperforming competing privacy assets such as Zcash (ZEC) and Dash, as reflected by consistently tighter trading spreads and stronger order book liquidity. Over the last year, XMR posted a recovery of more than +40% from its cycle lows, evidence of renewed conviction among crypto-native and institutional counterparties.
Positive Recent Events
- Protocol Upgrades: The rollout of "Seraphis" and wallet upgrades in late 2023/early 2024 reinforced Monero’s privacy layer, improving transaction anonymity and user experience.
- Marketplace Integrations: Adoption expanded as major darknet markets and select regulated OTC desks confirmed ongoing XMR support.
- Network Growth: Active wallet count and hashrate both set new all-time-highs in early 2024, underlining network decentralization and miner confidence.
- Liquidity Deepening: Strategic listings on emerging exchanges and non-custodial DEXs, particularly important in an era of increasing CEX scrutiny.
Macro/Sector Tailwinds
- Growing demand for censorship-resistant capital flows in emerging markets, as evidenced by surging XMR volumes in LATAM and Eastern Europe.
- Increasingly restrictive regulatory postures on transparent blockchains, paradoxically boosting Monero’s perceived utility as a foundational privacy infrastructure.
- A supportive macro backdrop: As monetary uncertainty and capital controls tighten globally, privacy-centric assets often attract safe haven flows.
Technical Analysis
Crypto Indicators
- RSI: Currently in neutral (49–53), leaving substantial upside scope before approaching overbought regime.
- MACD: Recent bullish crossover (mid-May 2024 weekly), indicating early momentum build-up.
- Moving Averages: XMR reclaimed its 200-day MA (156 USD) in June 2024, a strong sign of base formation. The 50-day and 100-day MAs (163 USD and 168 USD) are converging upward—potential precursor for a golden cross.
Key Support/Resistance Levels
- Primary Support: 140 USD — repeatedly bought on dips since late 2023
- Secondary Support: 125 USD — multi-year technical floor
- Immediate Resistance: 185–190 USD, followed by 210 USD
- Successful daily/weekly closes above 190 USD would likely validate a structural trend reversal with significant upside unlocked.
Momentum and Short/Mid-Term Structure
- A succession of higher lows since January 2024 underpins persistent bullish divergence.
- On-chain accumulation addresses (wallets holding >100 XMR) have increased by +7% YTD, indicative of continued smart money positioning.
- Exchange flows show net outflows since May 2024, reducing selling pressure and pointing to growing HODLer conviction.
- Volatility compression in Q2 2024 presents latent breakout risk—potential for outsized price expansion if market catalysts align.
Fundamental Analysis
Growing Adoption & Ecosystem Expansion
- User Growth: Active XMR wallet count has exceeded 3.2 million, with decentralized payment gateways integrating Monero to meet demand from privacy-focused merchants.
- Partnerships: Strategic integrations with open-source hardware wallet teams (e.g., Ledger, Trezor) and interoperability pilots with layer-2 DeFi projects indicate maturing ecosystem depth.
- Development Pipeline: Surpassing 500 contributors on main codebase, Monero’s development community remains one of the most robust among privacy coins.
Attractive Relative Valuation
- Market Cap: $3.1B (as of June 2024), making XMR the unrivaled leader in the privacy segment and 26th overall among major cryptos.
- Tokenomics: Capped emission with predictable tail emission, supporting long-term incentive alignment for validators and miners.
- Liquidity: Consistently in the top decile for 24h spot and perpetual volumes among non-EVM cryptos; order book depth frequently exceeds $10M even in volatile periods.
- Dominance: 84%+ dominance of total privacy coin market cap, underscoring enduring first-mover advantage and brand stickiness.
Structural Advantages: Technology & Community
- Differentiation: Monero’s ring signatures, stealth addresses, and bulletproofs remain unparalleled for on-chain privacy. The "Seraphis" upgrade positions XMR atop the privacy tech stack amid regulatory change.
- Community: One of the most distributed, ideologically driven, and security-vetted communities in all of crypto, providing unmatched resilience against censorship and codebase attacks.
- Security: With $1B+ in annualized security budget via mining rewards, Monero’s network is among the most robust against potential 51% attacks in the sector.
Volume & Liquidity Analysis
- Volume Trends: Sustained average 24h traded volume above $110M—even during market stress—shows robust price discovery and institutional-grade liquidity.
- Orderbook Resilience: Market depth remains consistent, with slippage on $1M orders under 1.7% on major platforms.
- Positioning: XMR features heavily in derivatives markets as a hedge or privacy play, facilitating dynamic portfolio strategies for large crypto funds.
Positive Catalysts & Outlook
- Protocol Upgrades: Pending rollout of "Seraphis v2" with enhanced scaling and privacy optimizations scheduled for late 2025.
- Ecosystem Growth: Growth in XMR-based DeFi and NFT initiatives, with new cross-chain bridges expanding utility.
- Regulatory Turning Point: Increasing realization among policy makers that privacy is instrumental for genuine digital asset adoption; constructive dialogue emerging in Canada, Western Europe.
- Institutional Entry: Ongoing pilots at several boutique funds for XMR-denominated products; Canadian OTC desks report growing inbound flows from high-net-worth clients.
- Emerging-World Adoption: XMR well positioned as a rail for remittances and capital protection in regions with authoritarian capital controls.
- Interoperability: Integration with EVM and Layer-2 networks could significantly amplify addressable market and composability.
Investment Strategies (Time Horizons)
Short-Term Positioning
- Volatility compression and positive technical signals suggest an attractive risk-reward setup for tactical traders.
- Accumulation on dips near 160-170 USD, ahead of the next protocol or liquidity event, seems to offer asymmetric upside potential.
Medium-Term Perspective
- Anticipated protocol enhancements and marketplace integrations in late 2024–2025 provide clear narrative catalysts.
- Breakout above 190–210 USD range could unlock momentum towards 250–300 USD levels, justifying accumulation ahead of network/catalyst events.
- Ongoing regulatory debates globally could produce sharp re-ratings in privacy coin valuations upon constructive signals.
Long-Term Vision
- Monero’s unbeatable privacy tech, deep community moat, and differentiated tokenomics reinforce its status as a foundational asset for censorship-resistant value.
- As privacy concerns escalate in digital economies, XMR’s combination of security and utility could drive capital reallocation over a multi-year horizon.
- DCA approaches and position building during macro pullbacks may maximize potential capture of the next secular upcycle.
Monero Price Predictions: 2025–2029
| Année | Prix projeté (CAD) |
|---|---|
| 2025 | 233 CAD |
| 2026 | 289 CAD |
| 2027 | 397 CAD |
| 2028 | 511 CAD |
| 2029 | 678 CAD |
Is Now the Right Time to Consider Monero?
Monero puts forward a profile unique in the digital asset landscape—resilient, privacy-centric, and underpinned by sustained network effects and innovation. Key strengths include robust on-chain accumulation, strong technical foundation, credible market share dominance, and a continual stream of protocol upgrades and ecosystem integrations. The market environment is increasingly conducive to Monero’s core value proposition, with privacy narratives gaining mainstream traction and institutional flows deploying into alternative assets.
The alignment of structural, technical, and regulatory factors suggests that Monero could well enter a fresh upward cycle in the coming quarters. For investors seeking asymmetric opportunities with clear risk/reward parameters in the privacy coin sector, the current window appears compelling. The project’s fundamentals continue to justify renewed attention—notably with key protocol upgrades and network milestones on the horizon.
Monero remains a high-volatility cryptocurrency capable of delivering substantial dynamic returns, while requiring diligent risk management. The recent acceleration in price confirms Monero’s capacity for swift, forceful moves, underscoring the importance of selectivity as the macro environment evolves. Key technical levels to watch include 140 CAD as immediate support and 190 CAD as a major resistance. The next core protocol upgrade, scheduled for H2 2025, could serve as a critical catalyst for Monero’s future trajectory.
In this context, Monero stands out as a digital asset whose fundamentals and momentum may be aligning for significant potential over the coming years—making this an opportune moment to seriously contemplate its role within a diversified crypto portfolio.
How to buy Monero?
It’s easy and secure to purchase Monero (XMR) online through a regulated platform in Canada. Investors generally have two main options: buying Monero directly (spot purchase) for real ownership, or trading Monero via crypto CFDs, which lets you speculate on its price without holding the coin. Both methods are accessible and can fit different investment profiles, depending on your goals and familiarity with crypto. Below, you’ll find a detailed comparison of trusted Canadian platforms to help you choose the best solution for your needs.
Buying Monero (XMR) Spot
A spot purchase involves buying Monero directly and holding the actual XMR tokens in your private wallet. This means you fully own your coins. On Canadian exchanges, expect a straightforward commission, usually a flat fee per transaction (for example, around $5 CAD), taken directly from your order in Canadian dollars.
Example
Example: Suppose Monero is trading at $200 CAD per coin. With a $1,000 CAD investment, you could buy about 5 XMR (subtracting a $5 fee).
- If Monero’s price rises by 10%, your holdings are now worth $1,100 CAD.
- Result: A gross gain of $100 CAD, or +10% on your investment.
Trading Monero via CFD
CFDs ("contracts for difference") allow you to trade Monero’s price movements with leverage, without owning actual XMR. This means you only speculate on price changes. CFD trading platforms typically charge a spread (difference between buy/sell price), plus an overnight financing fee for positions held more than one day.
Example
Example: You open a CFD position on Monero with $1,000 CAD and use 5x leverage, giving you $5,000 CAD market exposure.
- If Monero increases by 8%, your position gains 8% × 5 = 40%, or $400 CAD profit on your $1,000 stake (excluding fees).
Key Considerations Before You Invest
Be sure to compare fees and platform terms before investing—costs can differ significantly between exchanges and CFD providers. Carefully review commissions, spreads, funding fees, and withdrawal conditions to optimize your returns. Ultimately, your choice will depend on your investment objectives and experience: spot buying is ideal for those who want real asset ownership, while CFDs suit active traders looking for leveraged strategies. You’ll find a detailed platform comparison lower on this page to help you make an informed decision.
Compare the best cryptocurrency exchange platforms in Canada!Compare platforms nowOur 7 tips for buying Monero
| 📊 Step | 📝 Specific advice for Monero |
|---|---|
| Analyze the Market | Study Monero’s price trends, volume, and adoption rates, while considering the unique privacy use case in the Canadian context. |
| Choose the Right Exchange | Select reputable Canadian or global exchanges that list XMR, have strong security standards, and support CAD transactions. |
| Define Investment Budget | Set a clear, reasonable budget based on your financial situation to ensure responsible exposure to crypto volatility. |
| Select a Strategy | Decide between short-term trading or long-term holding; Monero’s privacy feature often favors patient, value-oriented investors. |
| Monitor News & Tech Updates | Stay alert to regulatory updates in Canada and Monero’s technical upgrades, as these may impact price and exchange access. |
| Use Risk Management Tools | Apply stop-loss orders, portfolio diversification, and storage in private wallets to protect your investment. |
| Sell at the Right Moment | Create a clear exit strategy, considering both profit objectives and major shifts in price, tech, or regulations. |
The latest news about Monero
Monero sees continued utility growth in Canada, highlighted by increased transaction volumes on local P2P platforms.
In the past week, several Canadian peer-to-peer crypto trading platforms such as LocalMonero have reported a noticeable uptick in Monero (XMR) trading activity, particularly among users seeking privacy-centric transactions. This aligns with a broader trend of Canadian residents utilizing privacy coins as regulators in Canada tighten oversight over major crypto exchanges, prompting greater adoption of decentralized and privacy-focused alternatives.
A leading Canadian fintech, Ledn, announced exploratory research into integrating Monero custody solutions for institutional clients.
Officials at Ledn, based in Toronto, disclosed they are studying the technical and compliance feasibility of supporting Monero as a custodial asset, citing demand from clients interested in privacy-respecting digital assets. While no listing or support is finalized, this public acknowledgment signals growing institutional consideration of Monero in Canada’s evolving crypto ecosystem, potentially paving the way for formal adoption in the near future.
The Canadian House of Commons Committee on Finance discussed privacy concerns relevant to Monero during a session reviewing digital asset policy.
This week, parliamentary records show Monero was directly referenced during committee testimony regarding the right to financial privacy and the challenges posed by increased government oversight on digital transactions. Although the policy review remains ongoing, the mention of Monero as a positive example of privacy-preserving technology brings the project into mainstream policy conversation, underscoring its perceived legitimacy and utility.
A Quebec-based crypto analytics group published positive insights on Monero’s resilience amid broader regulatory crackdowns in North America.
In a June 2024 report, CryptoQuébec highlighted Monero’s unique technical strengths, notably its resistance to chain surveillance and robust community-led development. The analysis concluded that, despite tightening compliance pressures on exchanges, XMR retains demand from Canadian users seeking financial sovereignty, supporting the thesis of sustained relevance in the local market.
Recent software upgrades to Monero’s core code were rapidly adopted by leading Canadian mining pools, ensuring ongoing network performance.
This week, Canada’s top Monero mining pools, including MoneroOcean Canada, implemented the latest protocol updates addressing efficiency and security. The swift rollout and positive feedback from Canadian miners demonstrate a healthy technological pipeline and signal strong operator confidence in Monero’s future, further consolidating its foundational role in Canada’s privacy coin sector.
FAQ
What is the latest staking yield for Monero?
Monero does not currently offer a staking mechanism. As a privacy-focused cryptocurrency, its protocol relies on Proof of Work (mining), not Proof of Stake. Therefore, holders cannot earn a yield simply by holding or locking Monero tokens, but may participate in mining if desired. This approach supports greater decentralization and aligns with Monero’s core goal of enhanced blockchain privacy.
What is the forecast for Monero in 2025, 2026, and 2027?
Based on the current price of Monero (XMR) at approximately 218 CAD, projected values could reach 327 CAD by the end of 2025, 436 CAD by the end of 2026, and 654 CAD by the end of 2027. Monero continues to benefit from a rising interest in privacy coins and a steady, active developer community, making it well-positioned for future adoption and technological upgrades within the privacy sector.
Is it a good time to buy Monero?
Monero maintains a strong position in the crypto market as a leading privacy coin, often favored by users seeking enhanced transaction anonymity. The consistent focus on technological innovation and high-level security attracts both individual and institutional interest. A rising global emphasis on privacy and data protection also positions Monero for long-term relevance within the evolving cryptocurrency landscape.
How are capital gains from cryptocurrencies like Monero taxed in Canada?
In Canada, profits from selling cryptocurrencies such as Monero are generally treated as capital gains, taxed at 50% of your marginal tax rate. All cryptocurrency transactions, including those involving Monero, must be reported on your annual tax return. There are currently no specific exemptions for crypto; even small gains are taxable, and failure to declare may result in penalties from the Canada Revenue Agency.
What is the latest staking yield for Monero?
Monero does not currently offer a staking mechanism. As a privacy-focused cryptocurrency, its protocol relies on Proof of Work (mining), not Proof of Stake. Therefore, holders cannot earn a yield simply by holding or locking Monero tokens, but may participate in mining if desired. This approach supports greater decentralization and aligns with Monero’s core goal of enhanced blockchain privacy.
What is the forecast for Monero in 2025, 2026, and 2027?
Based on the current price of Monero (XMR) at approximately 218 CAD, projected values could reach 327 CAD by the end of 2025, 436 CAD by the end of 2026, and 654 CAD by the end of 2027. Monero continues to benefit from a rising interest in privacy coins and a steady, active developer community, making it well-positioned for future adoption and technological upgrades within the privacy sector.
Is it a good time to buy Monero?
Monero maintains a strong position in the crypto market as a leading privacy coin, often favored by users seeking enhanced transaction anonymity. The consistent focus on technological innovation and high-level security attracts both individual and institutional interest. A rising global emphasis on privacy and data protection also positions Monero for long-term relevance within the evolving cryptocurrency landscape.
How are capital gains from cryptocurrencies like Monero taxed in Canada?
In Canada, profits from selling cryptocurrencies such as Monero are generally treated as capital gains, taxed at 50% of your marginal tax rate. All cryptocurrency transactions, including those involving Monero, must be reported on your annual tax return. There are currently no specific exemptions for crypto; even small gains are taxable, and failure to declare may result in penalties from the Canada Revenue Agency.
