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Privacy coin Monero (XMR) is up more than 85% during the past two months.

Many coins and tokens available across the crypto space have had ups and downs over the past several weeks due to macro trends such as record-levels of inflation, rising interest rates from the Federal Reserve, and the ongoing war in Ukraine.

However, at least one crypto project has been bucking that trend with a clear and consistent upward trajectory. According to CoinMarketCap, when you zoom out to the three-month view for privacy coin Monero (XMR), you see that this particular asset is up an incredible 87% since Feb. 24, 2022. While the same website shows that Bitcoin (BTC) is up 18% and Ethereum (ETH) is up 32% for the same timeframe.

In 2014, a group of several developers came together with a focus on developing a blockchain-based project where the top priority was anonymity and privacy -- followed by efficiency and ease of use. Together they created Monero. Monero was one of the first such coins at the time, along with the Dash (DASH) project. Since then, several other privacy type coins have emerged -- which are collectively known as anonymity-enhanced cryptocurrencies (AECs) in crypto circles -- and include AECs such as Oasis (ROSE), Decred (DCR), and Zcash (ZEC).

The AEC class of digital assets are unlike other cryptocurrencies because the privacy coins rely on an array of cryptography tools to cloud the wallet addresses of the receivers and senders of respective AECs. Conversely, the majority of all other virtual currency transactions -- including those of BTC and ETH -- can readily be viewed by anyone who looks at the respective blockchains where trading occurs.

The Monero website states that the project is focused on decentralization, security, and privacy. The site reads, "This level of privacy must be completely accessible to all users, whether they are technologically competent or have no idea how Monero works. A user needs to confidently trust Monero in a way that this person does not feel pressured into changing their spending habits for risk of others finding out."

Ironically, it's these very features that have largely kept the U.S.-based cryptocurrency exchanges such as Coinbase and Gemini from listing XMR, which is currently available on very few crypto exchanges including Binance and Kucoin. U.S. exchanges want to avoid regulatory blowback from listing such privacy coins and tokens because AECs are frequently linked with criminal activities. Regardless, many law-abiding crypto users like the idea of anonymous autonomy, which is the most likely driver of this surge in XMR as people are buying up the coin before it potentially gets blocked or banned.

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As of this writing, Monero is down about a half-percent over the past 24 hours, trading at $253.34 according to CoinMarketCap. It's currently priced 48% off its all-time high of $483.58 in May of last year.

These are only opinions and not financial advice. Each investor should always do their own research, investing only what they can comfortably afford to lose. Given the trending macro conditions, the growing desire for privacy within the crypto space among users, and Monero's low market capitalization of $4.6 billion, this project has a lot of potential -- that is unless governments band together to ban this crypto.

There are hundreds of platforms around the world that are waiting to give you access to thousands of cryptocurrencies. And to find the one that's right for you, you'll need to decide what features that matter most to you.

To help you get started, our independent experts have sifted through the options to bring you some ofour best cryptocurrency exchanges for 2022. Check out the list here and get started on your crypto journey, today.

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This Privacy Crypto Has Left Bitcoin and Ethereum in the Dust Since February. Should You Buy? - The Motley Fool

RIYADH: Canadas annual inflation rate accelerated in March to 6.7 percent, a full percentage point higher than in February and well above expectations, driven by widespread price pressures, Statistics Canada data showed on Wednesday.

The rate is the highest since January 1991, when it hit 6.9 percent, and was above the Bank of Canadas 1 percent-3 percent control range for the 12th consecutive month. Analysts surveyed by Reuters had forecast inflation would rise to 6.1 percent in March.

Prices increased against the backdrop of sustained price pressure in Canadian housing markets, substantial supply constraints and geopolitical conflict, which has affected energy, commodity, and agriculture markets, Statscan said.

The CPI common measure, which the Bank of Canada says is the best gauge of the economys performance, rose to 2.8 percent from a revised 2.7 percent in February. CPI trim was 4.7 percent and CPI median was 3.8 percent.

South Africa's annual inflation hits 5.9%

South Africas consumer inflation rose to 5.9 percent year on year in March from 5.7 percent in February, data from Statistics South Africa showed on Wednesday, driven mainly by fuel on the back of higher oil prices because of the war in Ukraine.

The increase in the headline number was slightly below analysts forecasts for 6 percent annual inflation, as food prices which have also been affected by the Russia-Ukraine conflict rose slightly less in March than in February.

Marchs month-on-month consumer inflation was 1.0 percent compared with 0.6 percent in February, in line with economists predictions.

The March figures mean inflation remained just within the central banks 3 percent-6 percent target range, at a joint five-year high along with Decembers reading.

Stripping out energy prices, producer prices rose 14 percent year-on-year.

Japan March exports rise 14.7%

Japans exports rose 14.7 percent in March from a year earlier, Ministry of Finance data showed on Wednesday.

That was weaker than the 17.5 percent increase expected by economists in a Reuters poll, and followed growth of 19.1 percent in February.

March imports gained 31.2 percent year-on-year, versus the median estimate for a 28.9 percent increase.

The trade balance came to a deficit of 412.4 billion yen ($3.19 billion), versus a median estimate for a 100.8 billion yen deficit.

German producer prices at record high

German producer prices rose 30.9 percent on the year in March, reflecting the effects of the war in Ukraine for the first time, data from the Federal Statistics Office showed on Wednesday.

Marchs figures mark six consecutive months of increasingly steeper increases, mainly due to rising energy prices, according to the statistics office.

These results should already contain first implications deriving from Russias attack on Ukraine, said the office.

The jump in factory gate costs, considered a leading indicator for consumer prices, was the biggest since records started in 1949, the statistics office said.

Producer prices registered a jump of 4.9 percent compared to the previous month.

Eurozone production rebounds as expected

Eurozone industrial production rebounded as expected in February from a January slump thanks to stronger output of consumer goods, which offset declines in the output of energy and capital goods, data showed on Wednesday.

The EUs statistics office Eurostat said industrial output in the 19 countries sharing the euro rose 0.7 percent month-on-month for a 2.0 percent year-on-year gain, rebounding from declines of 0.7 percent for the month 1.5 percent year-on-year in January.

Economists polled by Reuters had expected the 0.7 percent monthly increase in February and had forecast a 1.5 percent annual rise.

The data comes largely from before the start of the Russian invasion of Ukraine on Feb. 24 an event that severely shook business sentiment in March.

US mortgage interest rates

The average interest rate on the most popular US home loan climbed to a 12-year high last week and fewer homebuyers sought properties in a sign that the Federal Reserves aim of cooling the housing market may be beginning to have an impact, data from the Mortgage Bankers Association showed on Wednesday.

The average contract rate on a 30-year fixed-rate mortgage increased to 5.2 percent in the week ended April 15 from 5.13 percent a week earlier, the MBA survey showed. It has risen 2 percentage points from one year ago.

The bulk of the run up, however, has occurred since the start of the year, causing the fastest climb in home-financing costs in decades as the Fed abandoned a cautious approach to raising its benchmark overnight lending rate in favor of swifter and more decisive action to bring down persistently high inflation.

China keeps lending benchmark unchanged

China kept its benchmark lending rates for corporate and household loans steady at its April fixing on Wednesday, defying expectations, as Beijing has become more cautious in rolling out easing measures to aid a slowing economy.

The one-year loan prime rate was kept at 3.7 percent, same as previously, and the five-year was unchanged at 4.6 percent.

A vast majority of the 28 traders and analysts surveyed in a snap Reuters poll this week expect a reduction this month. Among them, 11, or 39 percent of all respondents, predicted a marginal cut of 5 basis points in both rates.

Most new and outstanding loans in China are based on the one-year LPR. The five-year rate influences the pricing of mortgages.

(With input from Reuters)

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Crypto Moves Bitcoin, Ether edge up; Iran tightens penalties on unauthorized crypto mining - Arab News

Crypto industry players who are bullish on bitcoin point to various reason why they think the digital currency will go up, including rising inflation and increasing institutional investor participation. But an uncertain regulatory environment continues to prove a headwind for bitcoin.

STR | NurPhoto via Getty Images

Bitcoin could hit $100,000 within a year, the CEO of crypto lending firm Nexo has predicted.

Antoni Trenchev told CNBC he thinks the world's biggest cryptocurrency can surge above $100,000 "within 12 months."

He said he's "worried" about bitcoin's short-term prospects, suggesting it may fall in tandem with traditional financial markets as the Federal Reserve starts unwinding its massive monetary stimulus program.

But that may, in turn, "give further impetus to crypto," he added, as a "crash" in stocks would likely mean the U.S. central bank eventually goes "back to easing in no time."

If Trenchev's forecast is correct, that would mean bitcoin's price would have to more than double this year.

For what it's worth, in January 2020 Trenchev predicted bitcoin's price wouldtop $50,000by the end of that year. "Everybody was laughing me out," he says.

Trenchev's 2020 prediction didn't come true. Bitcoin only managed to hit a high of just over $29,000 that year. But the cryptocurrency did eventually surpass that $50,000 in February 2021.

Crypto believers say the market has matured, and that there's ample liquidity now that major Wall Street institutions like Jump Trading and Jane Street are flocking to digital assets.

Meanwhile, crypto "whales" like Do Kwon, the co-founder of blockchain firm Terra Labs, are buying up millions of dollars' worth of bitcoin in the belief that it could become a future "reserve" currency.

But there are some headwinds for the market. The global regulatory environment remains fragmented and the crypto market still remains volatile. In particular, bitcoin remains heavily correlated to the stock market, in particular the Nasdaq index. While stocks remain volatile, so too could bitcoin.

Bitcoin is still around 40% off its record high of $68,990.90.

Other crypto executives don't expect as much price appreciation this year.

"In this particular moment in time we are living under, I would say, global uncertainty in the markets, not just the crypto markets, also in the stock markets," Paolo Ardoino, chief technology officer of Bitfinex, told CNBC in an interview on Wednesday.

"So we are seeing definitely lower volumes on the crypto side ... bitcoin volumes have dropped over the last few weeks. So that is quite important as a metric because it tells many whales, many active market participants, participants that were very active before are waiting a little bit on the sidelines."

Whales are large investors that are able to move the market.

Ardoino said bitcoin could fall sharply below $40,000 but he expects by digital currency will be "well above" $50,000 by the end of the year.

"I'm a bullish person on bitcoin I see so much happening in this industry and so many countries interested in bitcoin adoption that I'm really positive," he said.

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Bitcoin could hit $100,000 within a year, crypto firm's CEO predicts - CNBC