Monero (XMR), the top privacy-focused cryptocurrency, surged 150% in Q2 2025, marking its highest price since June 2021. Yet, this impressive rally unfolded with minimal hype on social media, hinting at a broader trend: rising demand for privacy coins.
Let’s explore what’s driving Monero’s quiet breakout—and why it matters.
XMR Price Hits 3-Year High
As of late May, Monero’s market cap exceeded $7.2 billion, pushing it into the top 25 cryptocurrencies on CoinMarketCap.
Its price peaked at $420, up from just $168 in early April. Even after a slight correction to $394, XMR still trades at its highest level in nearly three years.
During the rally, Monero briefly overtook Litecoin (LTC) and Toncoin (TON) in market cap, signaling growing investor interest in privacy-focused assets.
Hashrate Spike Boosts Network Confidence
One key factor behind the Monero rally is its soaring hashrate. According to CoinWarz, the network’s hashrate hit a record 6.33 GH/s in May.
This jump shows that more miners are joining the network, a strong vote of confidence in Monero’s future. It also enhances the security and decentralization of the blockchain—key selling points for privacy advocates.
Google Trends Show Investor Curiosity
Search interest in Monero has spiked sharply this year. Google Trends data reveals that Monero-related searches stayed consistently high in 2025 and recently soared to 90, the highest level since August 2024.
This growing curiosity comes amid rumors of potential exchange relistings, which could further fuel price action.
Monero’s Upcoming Upgrade: FCMP++
Monero is known for its stealth features, including ring signatures, which obscure senders, receivers, and transaction amounts.
Now, the network is preparing for a major upgrade: Full Chain Membership Proofs (FCMP++). This upgrade will bring quantum resistance and increase the anonymity set dramatically.
According to CR1337, a core developer at Navio:
This development could significantly improve transaction privacy—a major win for the project’s ideology.
Illicit Use Adds Controversy
Monero’s use in illegal activity has also made headlines. In early 2025, a group linked to the Islamic State’s Pakistan Province promoted XMR donations for funding.
Separately, hackers used Monero to launder $330 million from a major April heist—an event that coincided with the start of XMR’s recent rally.
While controversial, these incidents highlight Monero’s unmatched privacy features. They also reignite the debate around censorship, privacy, and digital freedom.
Privacy Coins Outperform Broader Market
Monero isn’t alone. According to Artemis, the privacy coin sector gained over 63% in the past month. As regulatory concerns grow and financial surveillance expands, on-chain privacy solutions are becoming increasingly attractive.
Despite regulatory pressure, Monero continues to position itself as a symbol of resistance in a world pushing for transparency.
