Peter Brandt Compares Monero Chart to Silver Before Rally

Peter Brandt, a well-known trader and analyst, drew parallels between the chart of the cryptocurrency Monero (XMR) and the movement of silver before its rise to $125. In a tweet dated October 21, 2026, he noted that the current chart structure of XMR reminds him of this movement.

According to Santiment, open interest (OI) in XMR futures increased by approximately 22% from October 15 to 20, but remains below the September peak. As of October 20, open interest stood at $198 million, less than the $208.8 million reached on September 5; this is the fifth-largest daily closing figure for the year. In terms of coins, open interest was about 329,000 XMR compared to approximately 402,000 XMR on September 2. The asset's price rose above $600.

Santiment also noted the dynamics of the funding rate. Its seven-day average peaked at about 2.7 of its own average for the period from June 23 to October 13 – this occurred from September 28 to October 4. From October 14 to 20, the indicator decreased to about 0.9 of the average. Thus, open interest was recovering against a funding rate below the average value, which, according to Santiment, indicates more restrained conditions compared to early October.

Santiment also highlighted movements in specific market segments. Interest in anonymous coins, including Zcash, was linked to Monero's privacy updates and future network improvements for Zcash, while the recovery of meme coins, including PEPE and M, was associated with a speculative rebound after recent sales. However, according to the platform's assessment, this is about selective capital flow rather than a general market rise: most major altcoins remain relatively passive. The current dynamics indicate a sustained appetite for risk, but capital is concentrated in specific segments. Until growth covers a broader part of the market, the strength of individual assets should not be seen as confirmation of a full recovery of altcoins.