Monero falls to $568 as THORChain XMR swaps wait for churn

Monero (XMR) has lost around 5.6 percent over the past 24 hours and trades at about $568 on Tuesday morning, according to CoinGecko, roughly €506. There is no single confirmed trigger for the decline. Meanwhile the most important news around the coin is technical: the decentralised exchange THORChain has finished the development work for Monero but has not yet switched on XMR trading. Before real swaps are possible, node operators first have to generate a new key.

For investors in Germany this is more than a footnote. Since large regulated exchanges dropped Monero from their offering, there has been no convenient way to buy it. A THORChain integration would open an additional route to swap Monero for bitcoin or ether without a centralised exchange. This article sets out what is confirmed, what is still pending and which questions about buying, custody, tax and leverage follow from it.

Monero price at $568: the numbers from Tuesday morning

CoinGecko data paint a clear picture of the day. The 24-hour high was just under $604, the low just under $564. The price is therefore trading near the bottom of that range. Over seven days the coin is down a little more than 6 percent, while over 30 days it is up around 8.6 percent. Year on year, Monero is about 35 percent higher.