Monero (XMR) Up 50%, Here’s The Real Reason Why XMRUSDT Is Pumping

Monero surged 50% to $388 after a $330M Bitcoin hack. Stolen BTC converted to XMR, triggering a supply-demand shock. Will the XMRUSDT rally continue?

In an unexpected turn of events, XMR, the currency powering the privacy-focused crypto network Monero, soared 50%, reaching $388 per Binance data.

At this pace, not only was the XMRUSDT pair the best-performing coin, outperforming even some of the best Solana meme coins, but the spike in valuation highlighted Monero’s importance and its role in the broader crypto sphere.

(XMRUSDT)

With XMR prices soaring, analysts and traders were left scrambling to understand the catalyst behind the rally. As it turned out, the spike to $388 was due to a massive Bitcoin hack. An OG address lost 3,520 BTC, worth over $330 million today.

According to blockchain investigator ZachXBT, the stash was quickly converted to XMR, triggering a supply-demand shock in the Monero market.

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XMRUSDT Surging After Large-Scale Bitcoin Conversion?

Today, ZachXBT flagged a wallet belonging to a longtime BTC holder who is speculated to be actively using Gemini, River, or Coinbase to move funds.

Funds were moved to the address bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g, which ZachXBT identified as a theft address.

Nine hours ago a suspicious transfer was made from a potential victim for 3520 BTC ($330.7M)

Theft address
bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g

Shortly after the funds began to be laundered via 6+ instant exchanges and was swapped for XMR causing the XMR price to spike…

— ZachXBT (@zachxbt) April 28, 2025

Within hours, the stolen funds were funneled through six instant exchanges and converted to XMR, a network renowned for its privacy features that obscure transaction trails.

This large-scale whale conversion of BTC to XMR created a sudden spike in demand, driving prices as high as $388. Coincidentally, even some of the hottest presales to buy in 2025 are picking up momentum.

The rapid influx of funds into the XMR market, known for its low liquidity, heightened volatility, fueling the 50% spike in valuation.

Overall, XMR markets have low liquidity following delistings by Binance and Coinbase.

Binance will delist #Monero in less than 12 hours. @binance also has Monero withdrawals halted for the past several hours citing "low hot wallet balance"

Why would they not have ALL of their XMR in hot wallet knowing their delisting schedule?

Manipulation til the last minute. pic.twitter.com/lROoduXCuS

— ᴜɴᴛʀᴀᴄᴇᴀʙʟᴇ (@DontTraceMeBruh) February 19, 2024

The only major exchanges supporting XMR are Kraken (available for non-European users) and Bitfinex.

On Kraken, the average daily volume is less than $20 million. In contrast, on average, XRP, which is available on top exchanges, posts over $500 million in daily volume on Binance alone.

Why Monero?

Unlike Bitcoin or Ethereum, Monero transactions are private by default and cannot be traced.

The platform employs features such as stealth addresses and ring signatures, which make transactions difficult for third parties to track.

These characteristics make XMR the preferred coin for users who prioritize privacy and, unfortunately, for those looking to launder funds.

In this case, the hacker’s approach of converting small amounts of stolen BTC to XMR across six exchanges shows an intent to avoid detection.

By using multiple transactions and instant exchanges, the address incurred higher fees but gained greater privacy.

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The post Monero (XMR) Up 50%, Here’s The Real Reason Why XMRUSDT Is Pumping appeared first on 99Bitcoins.