Monero has started growing, hitting a new high for 2025, as demand returns. The asset is also outperforming most assets in the market. The asset recently rose to $353 after a slow rise in 2035.

According to reports, this is the first time the asset is hitting these levels since 2021, with the move now setting up expectations for an even more active appreciation cycle. XMR’s revival came after a hacker used the token to swap out stolen BTC funds.

Following the incident, XMR did not stop its expansion; instead, it retained higher baseline volumes above $80M in 24 hours. Monero never returned to levels from before the hack, instead reviving a long-forgotten trade. The asset has limited exposure to mainstream exchanges after delisting but retains its influence as a privately mined coin.

Asian markets boost Monero’s rise

The recent exposure of Monero on social media does not immediately translate to increased global trading. Several specifics around XMR may cut the rally short. More than 50% of XMR volumes are on KuCoin and HTX, exchanges that are usually difficult to access for international traders. XMR is also traded on smaller markets with significant counterparty risk.

The asset is banned from US-based and EU brokerages and exchanges due to its anonymous origins and untraceable wallets. Exchanges may also have problems with XMR withdrawals and reserves in the case of a real rising demand for the coin. Some market operators also use a tokenized version of Monero. The asset is difficult to track.

In the past day of growth, the XMR/ETH pair on KuCoin also showed anomalous activity, with volumes rising by over 274% in a day. The XMR/ETH pair was also highly active at the end of April as the hacker tried to swap out assets, leading to peak volumes. The other activity hub for Monero was Kraken, where the busiest pair expanded its volumes by over 1,621%.

The biggest shift came from the smaller market Bitrue, where XMR activity spiked by 10,000% in an otherwise low-liquidity pair. The available liquidity for XMR may still be low for a proper bull market. In the short term, XMR has often outperformed other altcoins and even BTC.

The revival of XMR is not only in its market activity. Monero mining is at an all-time high, more than doubling since April 2024. The network hashrate grew exponentially in the past month, showing a trend of returning to the network as a source of newly mined privacy coins.

Miners produce only 432 XMR per day, comparable to the BTC mining reward. The coin remains scarce as exchanges carry insignificant balances. Acquiring XMR may be the most accessible for miners, causing real scarcity for potential buyers.

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DOJ and DHS urged to ramp up crypto surveillance capabilities

Senators Warren and Cassidy have reached out to the Department of Justice (DOJ) and the Department of Homeland Security (DHS) with a series of inquiries focusing on the agencies’ current technological prowess in tracking and prosecuting CSAM cases involving cryptocurrencies. A letter addressed to Attorney General Merrick Garland and DHS Secretary Alejandro Mayorkas included six pointed questions demanding an evaluation of existing tools and the need for advancements to effectively tackle this challenge.

Recent legal actions highlight regulatory focus on crypto exchanges

Highlighting the urgency of this issue, recent actions by the DOJ have underscored the government’s commitment to reigning in illicit activities facilitated by cryptocurrencies. The indictment of the cryptocurrency exchange KuCoin, along with its founders, on charges of operating without a proper license and violating the Bank Secrecy Act, showcases the heightened regulatory scrutiny. This case, involving over $5 billion in criminally derived and suspicious funds, illustrates the critical need for robust oversight and regulatory compliance within the cryptocurrency sector.

The efforts by Senators Warren and Cassidy reflect a growing bipartisan concern over the misuse of digital currencies in criminal enterprises, particularly those involving the exploitation of children. As the investigation progresses, stakeholders from various sectors remain vigilant, emphasizing the importance of protecting the financial system and preventing exploitation.

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