Monero (XMR) has seen recent price surges due to the coming fo the currencies hard fork "Monerov" . In the span of only a week, Monero (XMR) has seen its price surge by more than 33%. This time last week, Monero was trading under $275 per token. Now, one token costs $366 and is nearly at its all-time high in terms of its Bitcoin comparative.
Driving the price of Monero towards the moon is the impending hard fork of the privacy-focused cryptocurrency. On March 14, Monero will welcome a new member to its step-family β MoneroV.
At the time of the fork, holders of Monero will receive free MoneroV tokens at a ratio of 1:10 β meaning that for every 1 Monero token someone owns, they will receive 10 MoneroV tokens.
Investors looking to buy in to Monero "pre-fork" for the incentive of just receiving free Monerov tokens should be aware. About the pre-fork pump-and-dump which commonly takes place before these rather commonplace events.
For example Ethereum Classic's recent hardfork , which has an airdrop of newly-created Callisto tokens scheduled on March 5.
ETC tokens traded at nearly $0.44 on February 20, as speculators drove the price upwards to take advantage of the pre-airdrop hype. Since then, the price of ETC has collapsed to nearly $0.29 as savvy investors cashed out their profits β and the airdrop hasnβt even happened yet.
Still, not all forks are created equal, and the benefits of free MoneroV tokens may outweigh the risks of potentially being left holding the bag. (As always, do your own research!)
Whether of not Monero and MonroV will play well together is yet to be seen , time will tell how this Hardfork will opal out. Whether it will be a of added value to to the privacy coin community or worst case scenario insight a civil war similar to that seen with Bitcoin and Bitcoincash.
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