Monero Falls 5.1% in 24 Hours to $576 After Tuesday High of $627

Monero (XMR) fell 5.1% over 24 hours to $576 in a Wednesday market snapshot, retreating from $627 on Tuesday while Zcash (ZEC) and Bitcoin (BTC) gained. Zcash rose 9.8% and Bitcoin added 0.9% over the same 24-hour period. Monero’s Tuesday move to $627 had begun at $607, before the asset turned lower. Open interest in Monero derivatives had climbed as the price moved above $600 earlier in the week. Elevated derivatives interest could lead to a liquidation cascade during a sharp price move. Earlier lows between $513 and $520 sit below the Wednesday price.