Monero (XMR) has significantly outperformed Ethereum (ETH) in value over the past year, with one Ether now swapping for approximately 3.7 Monero, a notable decrease from nearly 13 Monero a year ago. This shift in performance, coupled with increasing difficulties in accessing Monero on major exchanges, is highlighting the utility of privacy-focused, no-Know Your Customer (KYC) swap services like GhostSwap.
Monero’s Market Performance and Exchange Accessibility
On October 22, 2025, ETH traded near $3,866 and XMR near $305, according to CoinGecko. By October 22, 2026, ETH is projected to be worth around $2,400, while XMR is expected to trade near $645. This indicates Monero has more than doubled in value over the year, while Ether has lost more than a third of its value. Monero currently ranks 13th by market capitalization, valued at approximately $12.2 billion, and reached an all-time high of about $798 in January 2026.
Simultaneously, acquiring Monero has become more challenging on traditional platforms. Binance ended XMR trading in 2024, and Kraken ceased offering it to clients in the European Economic Area during the same year. These developments may drive users towards decentralized swap methods.
GhostSwap: A No-KYC Solution for ETH-XMR Swaps
GhostSwap, a no-KYC crypto exchange, offers a direct, non-custodial method for swapping ETH to XMR without requiring users to create an account, provide an email, or undergo ID verification. The service supports swaps between over 1,600 cryptocurrencies, including Ethereum and Monero. Users can initiate a swap by pasting their Monero receiving address, sending ETH from their own wallet, and receiving XMR directly to their specified address.
This process contrasts sharply with the transparency of the Ethereum network, where every transaction, address, and balance is publicly viewable on Etherscan. Addresses linked to exchange accounts or ENS names can often be tied to real-world identities. Monero, conversely, prioritizes privacy through features like ring signatures, stealth addresses, and RingCT, which obscure the sender, receiver, and transaction amounts.
The no-account swap mechanism on GhostSwap further enhances privacy by removing a direct link between the ETH sent and the XMR received, as no user profile is created or retained. This is a direct cross-chain swap, meaning it does not involve bridges or wrapped tokens; ETH is utilized on the Ethereum network, and native XMR is delivered on the Monero network.
The Swap Process and Technical Details
If a swap cannot be completed, the deposited ETH is refunded to the sender’s address. Standard swaps on GhostSwap typically take between 10 to 25 minutes for the XMR to be sent after the ETH deposit suggests, which usually occurs within 2 to 5 minutes. The Monero wallet requires approximately 20 minutes, or 10 confirmations, before the received XMR can be spent.
Users can send their ETH deposit from wallets such as MetaMask, Rabby, or a Ledger. However, since MetaMask cannot receive Monero, the XMR must be sent to a dedicated Monero wallet, including Feather, Cake Wallet, or the Monero GUI. The minimum swap amount is approximately 0.012 ETH, as indicated on October 22, 2026, though the exact minimum is displayed on the GhostSwap interface before initiating a transaction.
The trend of Monero’s increasing value and decreasing accessibility on centralized exchanges, alongside the availability of privacy-preserving, no-KYC swap services, suggests a growing demand for alternative methods of cryptocurrency exchange that prioritize user privacy and autonomy.
Why This Matters
The materials describe a narrow update: The article details a process for users to swap ETH for XMR directly from their own wallets using a no-KYC exchange service called GhostSwap. The exact number of cryptocurrencies supported by GhostSwap beyond Ethereum and Monero.
Broader Context
Source materials place the factual news in this context: One Ether (ETH) now swaps for about 3.7 Monero (XMR), down from almost 13 a year ago.
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