Monero Whale Bets $14.3M on Cryptocurrency to Hit $475-$516

A large-scale crypto investor has placed a $14.3 million leveraged bet on Monero (XMR) to climb towards the $475, $516 range, underscoring renewed bullish sentiment around the privacy-focused cryptocurrency.

The trader used the Hyperliquid trading platform and opened a 4x long position on 36,000 XMR, worth approximately $14.33 million at the time of the transaction. The whale has already set take-profit orders at prices ranging from $475 to $516, indicating that it expects further upside in XMR.

Monero's recent performance has been impressive, emerging as one of the strongest-performing privacy-focused cryptocurrencies in recent months. This is due to growing demand for privacy assets and major developments around its technology, such as the implementation of FCMP++.