XMR Price Spikes After Suspicious Transfer of 3,520 Bitcoins

XMR, a decentralized privacy coin, saw its market cap increase by over $1 billion in the last 24 hours, according to CoinMarketCap. This sudden surge was triggered by a large Bitcoin swap to XMR.

On-chain investigator ZachXBT linked the price spike to a suspicious transfer of 3,520 Bitcoins, worth over $330 million. He shared a suspected theft address – bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g—that laundered funds through more than six instant exchanges.

Since the spike, XMR’s price has retreated, but it’s still up 22% in the last 24 hours. The coin now trades at around $279, with a market cap of over $5 billion and a trading volume of more than $304 million, up 493% in a day.

Will XMR Be Relisted on the Crypto Exchanges That Ended Its Support?

XMR faces challenges on centralized exchanges due to its privacy features, which hinder regulatory compliance, particularly regarding anti-money laundering (AML) and know-your-customer (KYC) requirements.

Several major exchanges, including Kraken, Binance, and OKX, have delisted XMR in response to regulatory pressures.

Governments are scrutinizing privacy coins like Monero due to concerns about their potential use in illicit activities. In the U.S., the IRS offered bounties in 2020 for developing Monero tracing tools, further highlighting this issue. The trend of exchanges delisting Monero may continue unless regulatory frameworks evolve to accommodate privacy coins.

However, there are potential factors that could lead to XMR's relisting. If clearer regulatory guidelines are introduced, exchanges may feel more comfortable relisting XMR.

At the same time, Monero has formed The Monero Policy Working Group (MPWG) to engage in regulatory conversations and explore technical upgrades that will ensure compliance while keeping the coin transparent and decentralized.

Despite these regulatory challenges, XMR stays within the top 25 cryptocurrencies by market cap. On April 18, 2025, Monero marked its 11th anniversary, reaffirming its commitment to privacy and security for users.

XMR's chances of being relisted on major exchanges will depend on changing regulations, advancements in compliance technology, and broader market trends. While its future on centralized exchanges remains uncertain, Monero's strong presence in the crypto space ensures ongoing discussions about its potential.

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