Monero gets unexpected support from singers

The digital currency called Monero often becomes the object of the crime-related news due to its structure which is unfortunately being used for criminal purposes. Easy mining and good anonymization tools, it turns out, can attract shady people who create mining viruses and convert stolen funds in this currency to hide tracks.

This reputation problem is undoubtedly being solved by the altcoin development team, and one of the latest initiatives, quite possibly, aimed at improving Monero’s reputation, is Project Coral Reef. According to the media outlets related to cryptocoins, top 40 singers, including Mariah Carey, Fall Out Boy, Marilyn Manson and many other names one can often see in the music charts, have agreed to sell their products by using this digital currency.

Monero’s technology has also recently attracted the attention of John McAfee, who told it can be a rival to Bitcoin in the future. The price of Monero reached a new all-time high after this statement — over $250 for one coin. The news about the singers, however, might have influenced the dynamics as well.