Monero price hits a new high, rising to $567

ChainCatcher reported that Monero's price surged above $567 on Sunday, reaching a new all-time high. This increase continues the trend that began at the end of last year, when privacy tokens demonstrated greater resilience than the overall crypto market.

Although Monero has surpassed its previous bull market cycle high from 2017 after eight years, Ryan McMillin, Chief Investment Officer at Merkle Tree Capital, stated that since privacy coins are mainly traded on offshore exchanges, the concentration of liquidity may lead to fragmented price discovery and amplify volatility. Investors should be cautious of short-term price manipulation risks.