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Monero has hit $290, smashing its previous $210 high. Best known as perhaps the most privacy-focused of the cryptocurrencies, recent news events have increased public awareness and demand.

Though part of its price increase is surely down to the media coverage of bitcoin educating the public about cryptocurrencies in general, it has started to get attention on its own. Libertarian livewire and bitcoin bull John McAfee recently mentioned it on CNBC’s “Fast Money” program, pointing out the currency’s untraceability and describing it as a potential competitor for bitcoin.

Now “Project Coral Reef” aims to push monero even further into the mainstream. Under the program 45 musicians including Mariah Carey, Sia and Fallout Boy will discount their songs and merchandise by 15% for monero purchases. Rapper G-Eazy described the cryptocurrency as, “one of the best options for my fans this holiday season”.

This venture is the brainchild of Riccardo “Fluffypony” Spagni, monero’s lead maintainer, and entrepreneur Naveen Jain. They put a call out to the monero community to help fund a secret project and raised the funds to pay for technical support on the artists’ sites.

Jain sees the project as a way of giving something back to monero’s users, saying in a statement that the community “doesn’t have a lot of opportunity to spend their monero on things that are really cool and exciting. This product solves that problem.”

Spagni and Jain hope that this will also provide some necessary raising of awareness for the cryptocurrency, and become a go-to option for customers wishing to protect their data.

Monero Image Via Shutterstock

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