Monero price hits a new high, rising to 567 USD

Monero price rose above $567 on Sunday, setting a new all-time high. This increase continues the trend that began at the end of last year, when the privacy token demonstrated stronger resilience than the overall cryptocurrency market.

Although Monero has broken through the 2017 bull market cycle high after eight years, Ryan McMillin, Chief Investment Officer of Merkle Tree Capital, stated that the concentration of liquidity due to privacy coins primarily trading on offshore exchanges could lead to fragmented price discovery and amplify volatility, making investors wary of short-term price manipulation risks.