Despite Daily Transactions Peaking IRS Scare Tactics Have Monero Investors Spooked

Despite Daily Transactions Peaking IRS Scare Tactics Have Monero Investors Spooked


Privacy coin Monero presses on full steam ahead as its daily transaction count reaches all-time highs. Data from bitinfocharts.com shows the daily number of XMR transactions peaked at 20.136k on October 12, 2020.

This smashes the previous all-time high of 16.689k daily transactions, achieved less than a month and a half ago.

Monero daily transaction chart

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Source: bitinfocharts.com

Since July last year, Monero’s daily transaction count has formed an ascending broadening pattern, characterized by two diverging trend lines.

Typically, this pattern indicates random disagreement between investors.

With that, it’s possible that some investors feel uncertainty as a result of the IRS’s campaign to “break” Monero and other privacy coins.

The IRS is Gunning For Monero

The IRS has, in recent times, ramped up its focus on privacy coins. Last

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