Monero, the privacy-driven cryptocurrency, rose by 80% in just a few hours yesterday. Currently sitting at $77 in the USD market, the cryptocurrency has been relatively stable over the last couple of months typically staying in the $40 - $50 range.
Bithumb's announcement to list Monero seems to be a drviing factor for the accentuated rally. After Bithumb’s announcement to offer XMR trading from August 27th, the 24 hour volume spiked to over 400,000 XMR. Typical daily volumes have ranged between 40,000 XMR to 100,000 XMR. South Korea markets have shown great demand for Bitcoin and Ethereum over the past few months and it appears Monero may be next.