Open-source cryptocurrency Monero (XMR) has hit a new all-time high of 16.689 in daily transactions. Since January, Monero’s daily global transactions have been on a steady rise. In the last three months, the asset reached an average of 12,500 transactions.
The increase in the past few days occurred at the same time that CipherTrace developed “traceable” means to track transactions on Monero.
CipherTrace has been working with the US Department of Homeland Security (DHS) to find an easier tool for investors to track transactions on XMR used in the dark market. As a privacy-focused cryptocurrency, XMR is popular in the dark net market. The newly developed tools will help to track stolen Monero currencies or the currencies used in illegal transactions.
In addition, CipherTrace noted monero as the second-favorite crypto choice used illegally. Following the announcement of the tracking tool, many still did not believe that the tracking move by CipherTrace is achievable.
On Wednesday, XMR opened at $97.17, and rose to its highest price of $97.32 before closing at $91.08. Also, on the day, it fell to its lowest price of $88.48.
Ranked 18th, XMR is currently trading at $82.88, a loss of 8.20% over its previous close. With a market capitalization of over $1.4 billion, on the 7th of January 2018, Monero hits its all time trading price of $495.84.