Monero Rallies 8.9% as THORChain Upgrade Adds Native XMR Swap Support
Monero (XMR), a cryptocurrency focused on transaction privacy, gained 8.9% over the past 24 hours as a THORChain network upgrade introduced native support for Monero swaps, according to an update shared on X by @Whale Insider.
The move connects Monero more directly with THORChain's cross-chain infrastructure, allowing XMR to be supported natively for swaps through the network. The reported price increase came alongside the announcement of the network upgrade and its expanded support for Monero.
THORChain Upgrade Introduces Native Monero Support
THORChain is a decentralized liquidity protocol designed to facilitate swaps between assets operating on different blockchain networks. Its infrastructure enables users to exchange supported cryptocurrencies without requiring a centralized exchange to custody the assets.
The latest upgrade adds native support for Monero, identified by the ticker XMR, to THORChain's swap infrastructure. This is significant for Monero because its privacy-focused architecture differs from many other major blockchain networks and can present technical challenges for interoperability.
Native support means that XMR can be incorporated directly into the protocol's cross-chain swapping infrastructure rather than relying on a wrapped version of the asset. The upgrade therefore expands the range of cryptocurrencies that can interact with THORChain's decentralized liquidity system.
The original update did not provide additional figures concerning transaction volume, liquidity or the number of XMR swaps processed following the upgrade.
XMR Price Gains 8.9% in 24 Hours
The reported THORChain upgrade coincided with an 8.9% increase in Monero's price over the previous 24 hours. The gain was highlighted in the X post alongside the announcement of native XMR swap support.
Short-term cryptocurrency price movements can occur for a range of reasons, and the available information does not establish that the THORChain upgrade was solely responsible for the increase. The reported data simply places the 8.9% rally alongside the network development.
Monero has historically distinguished itself from many other cryptocurrencies through its emphasis on financial privacy. The network uses privacy-enhancing technologies designed to make transaction details less transparent than those found on conventional public blockchains.
That design has also made interoperability an important technical consideration when connecting Monero with external decentralized finance infrastructure.
What Native XMR Swaps Mean for the Ecosystem
The addition of native Monero support gives THORChain users access to XMR within a cross-chain swapping environment. For the broader cryptocurrency ecosystem, the development represents an expansion of interoperability between a privacy-focused blockchain and decentralized liquidity infrastructure.
Cross-chain protocols are intended to reduce the need for users to move assets through centralized intermediaries when exchanging cryptocurrencies from different networks. Supporting additional native assets can broaden the range of transactions available through such systems.
However, the immediate market impact of the upgrade remains separate from the technical development itself. The 8.9% move reported for XMR reflects the asset's performance over a 24-hour period, while the THORChain upgrade represents a change to the network's supported assets.
As native Monero support becomes available through THORChain, market participants will be able to assess its adoption through subsequent activity on the network. The original report did not provide any forward-looking estimates or additional data on expected usage.
For now, the key development is THORChain's introduction of native support for XMR swaps, which was reported alongside an 8.9% rise in Monero over the preceding 24 hours.
writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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