Tanya Abrosimova
Independent Analyst
- The company denied the news that retail Row accepts Monero.
- Cryptocurrencies are still immature, according to Tim Sweeney.
Monero retraced from the recent high of 54.36 amid rangebound trading on the cryptocurrency market. The coin with a market value of $892M takes the 13th place in Coinmarketcap rating and generates a trading volume of about $15M on a daily basis.
The coin might have got under additional pressure as Epic Games denied rumors that its online fan shop Retail Row accepts Monero as a means of payment.
Earlier this month fans of an online blockbuster game Fortnite got agitated by the news that Retail Row allows paying for gifts and branded goods in XRM. However, the founder of Epic Games Tim Sweeney explained that the cryptocurrency support was enabled to the online shop by accident.
"Actually, Fortnite’s brief foray into crypto was accidental. We worked with a partner to open a merchandise store, and somewhere along the way Monero payment was enabled," he said on Twitter, commenting the recent news.
According to Sweeney, the cryptocurrency concept has potential, but it is still in its early stages of development. Being volatile and vulnerable to fraud, it poses substantial risks to a broader audience of Epic Games that include young and inexperienced gamers.
"No, Epic doesn’t have any cryptocurrency partners and aren’t in any crypto partnership discussions with anyone. We do read lots of papers and talk to smart people to learn more in anticipation of an eventual intercept," he said.
XMR/USD, the daily chart
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