The Exciting News for Monero Enthusiasts

Ledger, the celebrated hardware wallet manufacturer, recently spread some good vibes in the crypto community by updating its support for the altcoin Monero (XMR) on its Nano S device. This announcement, shared through a press release on November 29, has the virtual currency aficionados buzzing. After all, who wouldn’t want secure storage for their beloved XMR?

Monero Joins the Ledger Family

With Monero’s latest GUI 0.13 already compatible with the Nano S, Ledger’s CEO Eric Larchevêque expressed his excitement during the announcement. There’s no denying it—Monero is no small fry in the crypto sea, currently ranked 12th by market capitalization. Now, with Ledger, it’s stepping up its security game, and that’s something to cheer about!

Statistics Speak: Ledger Dominates the Hardware Wallet Landscape

• Sold over 1.3 million Nano S units—yes, that’s quite a hefty number!
• Covers an astonishing 90% of the entire crypto market cap with its devices.
• Competing fiercely with other popular wallets like Trezor and KeepKey.

Increased Concerns over Security

As more investors dive into the cryptocurrency pool, the need for solid security measures has never been clearer. With incidents of counterfeit wallets rising, as indicated by Trezor’s recent warnings, it’s commendable that Ledger is actively bolstering its offerings and security. The need for trusted devices is at an all-time high, and Ledger seems to grasp this well.

Expanding Reach and Team!

Not stopping at simply adding new altcoins, Ledger is also spreading its wings into the institutional space. Recently, they announced the hiring of a former Intercontinental Exchange executive to spearhead the institutional custody project, Ledger Vault, as they arrived in bustling New York. Looks like Ledger isn’t just resting on its laurels!

Market Snapshot: Monero’s Standing

Currently, Monero is trading at around $60.88, experiencing a slight dip of just under 1% at the time of this report. With the crypto market being as volatile as a cat on a hot tin roof, these ups and downs are hardly surprising. But with Ledger solidly backing it, Monero may just benefit from increased adoption and positive momentum.