Monero (XMR) Soars 25% in Four Weeks Amid European Botnet Mining Raids and Mining Shutdowns

Monero (XMR) has surged 25% over the past four weeks following crackdowns on Botnet mining operations in some countries in Europe and the decision to shut down a leading miner.

This price action demonstrates the resilience of privacy-focused cryptocurrencies despite regulatory challenges.

This significant reversal of Monero in particular reveals how external factors such as regulatory actions can affect market behavior.

Monero's Rise Amid Mining Pressures in Europe

Monero (XMR) has surged an impressive 25% in the last month, outpacing major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). According to TradingView data, XMR briefly surpassed $180 last week, reaching its highest value since January 23, and was last traded at around $170 on Kraken.

Impact of Regulations

While the exact reason for this price increase is unclear, discussions on social media suggest that recent crackdowns against Botnet mining in some European countries may play a significant role. Botnet mining involves using compromised computer networks to mine cryptocurrencies without permission, and Monero is favored because its strong privacy features make it difficult to track such illegal financial transactions.

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