Monero Transactions Spike Over 15,000 Thanks to Minko, the ‘Social Gambling Game’

Monero Transactions Spike Over 15,000 Thanks to Minko, the ‘Social Gambling Game’

The privacy-centric cryptocurrency Monero (XMR) has just had a new all-time high of transactions, reaching over 15,000 transactions in a day. The pike in transactions seems to be related to Minko, a “social gambling platform.”

Looking at the data provided by BitInfoCharts, Monero does not often go over 10,000 transactions per day, and the latest record was in January 2018, when it nearly reached the $400 all-time high.

The Social Gambling Platform To Support the Monero Development

Minko was launched in April when XMR celebrated its fifth anniversary, and it was released to let users gamble their XMR to the Monero development, wrote the game’s developers:

“We wish to keep financially contributing long term to Monero development and will define the best way forward after this first month (with more knowledge of what to expect in terms of traffic).”

Although the transaction numbers have increased, the XMR price is steady. Crypto Compare shows that XMR is trading at nearly $69, after it rose 4.7% in the last 24 hours.

The increase in transactions could also be positively affected by Facebook that is looking for partners in launching a payments system based on cryptocurrency.

Many altcoins have seen a rise in price after BTC jumped in price today, trading at over the $5,800 mark.

As for the social gambling platform, it is thriving on the Monero blockchain since it received an upgrade at the end of 2018, having slashed the XMR transaction fees by over 90 percent. The upgrade was so successful that other crypto exchanges lowered the withdrawal fees for XMR as well.

While other privacy-centric cryptocurrency are struggling, Monero is thriving, even though Dream Market was recently shut down, and its services have been transferred.

Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

Crypto Destroyer

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