Monero (XMR) market capitalization surpasses TON and Litecoin, setting the stage for the flippening

The so-called flippening is characterized by XMR's market capitalization topping $7.5 billion, racing ahead of TON's $7.48 billion and LTC's $7.35 billion

Monero's (XMR) price has risen more than 100% for the year to date, hitting highs last seen in early 2021. The coin is now trading at over $400. At the same time, litecoin (LTC) has dropped 6% to trade below $100. Toncoin is down 25% for the year.

At press time, monero was trading at around $390, while litecoin was at $94 and toncoin was at $1.86.

Monero's market capitalization has hit $7.5 billion, putting it ahead of both litecoin's $7.35 billion and toncoin's $7.48 billion, according to data from CoinGecko.

The privacy-focused cryptocurrency has been a favorite among criminals, with a media outlet linked to the Islamic State (ISIS) Pakistan Province earlier this year publishing a poster calling for contributions of "jihad with wealth" and seeking donations in monero.

Monero is a decentralized, peer-to-peer cryptocurrency with privacy-enhancing technologies that aim to obscure transaction details, rendering traditional financial tracking and interception methods largely obsolete.

Earlier this year, rumors circulated that major exchanges, including the U.S.-listed Coinbase, were planning to re-list monero. The coin was delisted by major exchanges in 2019 due to regulatory pressure.

Monero's price has soared in recent months as the coin's upcoming privacy upgrade, known as "bulletproof plus," approaches. The upgrade is set to significantly enhance monero's privacy and security features.

Monero is also expected to be included in the upcoming Coinbase Institutional's "Base Chain," a new blockchain being developed by Coinbase.

The upcoming upgrade and rumors of re-listing have generated significant buzz around monero, leading to a surge in demand for the coin. This demand has pushed monero's price to new highs, outpacing the gains seen by other major cryptocurrencies such as bitcoin and ether.

However, monero's high price and use by criminals have raised concerns among some investors and analysts. Some investors believe that monero's price is overvalued and due for a correction.

Despite these concerns, monero remains a popular choice among privacy-conscious cryptocurrency investors. The coin's privacy features are unmatched by any other major cryptocurrency, and its community is known for being active and engaged.output: Privacy-focused cryptocurrency monero (XMR) has raced past toncoin (TON) and litecoin (LTC) to become the fourth-largest cryptocurrency by market capitalization.

The so-called flippening is characterized by XMR's market capitalization topping $7.5 billion, according to data source CoinGecko. At the same time, LTC is trading at $94 and has a market cap of $7.35 billion, while TON is at $1.86 and has a market cap of $7.48 billion.

Monero, a decentralized, peer-to-peer cryptocurrency with privacy-enhancing technologies to obscure transaction details, is largely immune from traditional financial tracking and intercepting methods.

Earlier this year, a media outlet linked to the Islamic State (ISIS) Pakistan Province published a poster calling for contributions of "jihad with wealth" and sought donations in monero.

However, the controversial coin's price has risen over 100% this year to hit levels last seen in early 2021, according to data from CCER. The rally has been fueled by optimism about the impending privacy upgrade and rumors of re-listing by major exchanges, including the U.S.-listed Coinbase.

At the same time, litecoin, considered silver to bitcoin's gold, has dropped 6% this year. Toncoin, which is deeply integrated into the social messaging app Telegram's economy, has dropped 25% for the year.