The Rise of the Monero (XMR) Network

While cryptocurrencies still regularly make headlines, a remarkable development has gone unnoticed in recent months: the surge of Monero (XMR), one of the leading privacy-focused digital currencies.

While cryptocurrencies often hit the headlines regularly, a remarkable development has gone largely unnoticed in recent months: the surge of Monero (XMR), one of the leading privacy-focused digital currencies.

In just two months, the price of XMR has soared by 150%, reaching its highest level since June 2021. But what factors explain this meteoric rise?

According to crypto news outlet Token Post, the starting point of this spectacular increase seems to be the significant rise in the hashrate of the Monero network in May 2025. It reached 6.33 GH/s, a record level, indicating the influx of new miners into the network.

This momentum also reflects the long-term trust of industry participants in the future of Monero. It also enhances the security and decentralization of the network, crucial elements for a cryptocurrency focused on privacy.

Beyond these technical factors, the surge in XMR can also be attributed to a growing demand for payment solutions offering a high level of anonymity. Monero, with its advanced privacy features, appears to be a response to this need.

Recently, the Monero community enthusiastically welcomed the announcement of a new update, the Full Chain Membership Proofs (FCMP++). This update promises resistance to quantum attacks and an enhancement in transaction anonymization.

Who else cannot wait for Full Chain Membership Proofs (FCMP++) coming to @Monero?Right now, Monero is facilitating ‘Ring Signatures’ to obscure the sender of each transaction and mixes the real input with a set of decoys (usually 16). FCMP++ will replace this with a new… pic.twitter.com/U3iYR1poTq

— Bendik Halle (Unchained Capital) (@bendik_halle) May 14, 2025

A Double-Edged Use

However, this spectacular surge of XMR is not without shady areas. Some indications suggest that the attraction to Monero could be linked to a resurgence of illegal activities, such as money laundering.

For instance, in early 2025, a media outlet associated with the Pakistani province of the Islamic State reportedly called for XMR donations. Likewise, hackers allegedly used Monero to launder stolen funds during a $330 million hacking incident in late April, coinciding with the start of the XMR rally.

This incident occurred just one week after the Islamic State's affiliate in Pakistan began accepting XMR donations for its activities.

According to Artemis data, the “privacy coins” sector has seen an average growth of over 63% over the last month, highlighting a broader trend in the crypto market.

Despite ongoing debates on anonymity and anti-censorship ideologies, on-chain privacy solutions appear to remain highly appealing to many investors.

This rapid rise of XMR seems to affirm, to some extent, that Monero is on track to become a symbol of resistance against global financial surveillance.