Monero (XMR) Hits New Records But Experts Warn Of FOMO Set In

While Zcash once commanded attention, interest has shifted back to Monero as privacy becomes more valuable.

Monero (XMR) has been trending higher and has managed to attract new attention from traders as the broader crypto market continues to struggle for direction.

Its new all-time high was met with FOMO from many people.

XMR Steals the Show

Several privacy-focused cryptocurrencies have performed well over the past three months. Monero seems to be leading the field as other competitors are falling behind. According to Santiment, the XMR rally was strong. But the analytics firm said investors looking for new entry points may want to wait until the public hype and fear of easy misses subsides.

The rally has widened, as XMR jumped almost 20% in the past 24 hours to around $677, pushing its monthly gains of more than 62%. This is the highest price level for Monero in almost eight years, after surpassing the highest value since the beginning of 2018. Market participants say the move reflects a broader swing in privacy-linked assets, which have shown strength since late last year.

While Zcash (ZEC) dominated the attention in the fourth quarter, interest shifted slightly back to XMR. However, experts also warn that cryptocurrency trading remains concentrated in a few offshore exchanges, as many regulated platforms avoid listing them, which could add further volatility.

Vikrant Sharma, Founder and CEO of Cake Wallet, said the increase was driven by its primary focus on financial privacy. In a statement to CryptoPotatohe explained that Monero is unique because privacy is built in automatically, something that is rare among crypto assets as governments increase surveillance.

The exec went on to add,

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“As governments expand AML, KYC, and on-chain monitoring, Monero’s technology is being validated. Regulatory pressure and exchange delisting have reduced perceived access, but strengthened the belief in users who really need an audit-proof currency. Recent price action suggests that markets are beginning to value privacy as a rare and rare financial asset.”

Sale of ZEC

On the other hand, its rival, Zcash, took another chance. The private coin sold heavily after all members of the Electric Coin Company resigned amid a management dispute. ECC CEO Josh Swihart said the decision followed a “constructive” release from Bootstrap’s board.

However, migration does not mean exiting Zcash. Swihart said the developers are forming a new company and will continue to work within the Zcash ecosystem. Shortly after the resignation, the team announced plans to develop a new Zcash wallet, internally called cashZ, which uses the same Zashi codebase. He said that the main focus is on the ZEC ecosystem, but they do not plan to launch a new token.