Monero jumps 9.9% to $522 as privacy coins lead weekend gains

Monero rose 9.9 percent to $522.12 over the weekend, the strongest gain among major tokens, as Bitcoin held near $78,000.

Monero rose 9.9 percent to $522.12 on Aug. 31, the strongest weekend move among major tokens, as Bitcoin held near $78,000 and Ethereum slipped slightly.

The rally followed THORChain's v3.20 upgrade, which lets users swap Monero and Zcash directly with Bitcoin, Ethereum, and stablecoins without centralized exchanges or wrapped tokens, according to the protocol's release notes. The move extends a privacy-coin revival after Grayscale launched the first U.S. spot Zcash ETF on NYSE Arca, pushing ZEC to an eight-year high near $868.

Bitcoin traded near $78,024 on Aug. 30 after retreating from a three-month high above $81,200, with realized capitalization expanding by more than $4.6 billion in a week, CryptoQuant contributor Darkfost reported. U.S. spot Bitcoin ETFs drew about $2.57 billion across seven positive sessions through Aug. 25, though a $201.9 million outflow on Aug. 28 ended a nine-day inflow streak. The pullback followed a hawkish Jackson Hole speech from new Fed Chair Kevin Warsh, who flagged PCE inflation running at 3.7 percent year over year, triggering roughly $486 million in liquidations across about 95,731 traders.

Monero's isolated surge points to capital rotating into privacy-focused assets as Bitcoin consolidates, with the token's next test hinging on whether THORChain's native-swap volume sustains demand. Bitcoin faces a decisive test at $78,670, the level that capped the early May rally; a daily close above it opens $81,000 and $88,000, while a second rejection risks a slide toward $72,170, according to technical analysis from CryptoTicker.

This article is for informational purposes only and does not constitute investment advice.