Monero just hit a fresh peak above $590, marking its highest point in 8 years. The move is catching serious attention in the market right now.

This week alone, $XMR jumped roughly 40%, with year-on-year gains sitting around 170%—substantially crushing the performance of $BTC and $ETH during the same periods. The catalyst seems multifaceted: traders are rotating capital away from $ZEC, privacy-focused assets are back in vogue after sitting on the sidelines, and supply dynamics have tightened noticeably following major exchange delistings.

It's the kind of move that shows how quickly sentiment can shift toward specific narratives when the conditions align.