this post was submitted on 08 Aug 2024
23 points (82.9% liked)

Cryptocurrency

1216 readers
1 users here now

founded 4 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 1 points 3 months ago

Monero is actually used as a day-to-day currency, which is why when Bitcoin and other currencies fall, Monero falls some, but not to nearly the same extent. As an example, the other day, Bitcoin fell 17% in one day, where Monero fell 6%. That has a lot to do with the velocity of money and the fact that Monero changes hands frequently and so it's price stays more stable.