In the last 90 days, the top privacy coins by market capitalization have seen a rise of just over $2 billion, going from $4.65 billion on November 9, 2022 to $6.69 billion on the present. However, while crypto assets like bitcoin and ethereum posted 30-day gains of 30% or more, privacy tokens like monero and zcash saw more modest gains, with growth ranging from 8.7 to 10 .6% in the last month.
Major privacy coins see slow growth as market capitalization rises by just $2 billion in 90 days
Statistics show that top privacy crypto assets saw lower growth in the past month compared to the top two crypto assets, bitcoin and ethereum. However, a privacy coin, dash (DASH), which is the second largest privacy token by market cap, saw a significant 38.7% rise against the dollar last month. Meanwhile, currency (XMR) experienced a rise of 8.7% in value, and zcash (ZEC) increased 10.6% in 30 days. Currently, the top three privacy coins by market value are XMR, DASHand ZEC.
90 days Statistics show that while monero(XMR) and zcash (ZEC) saw modest gains, the privacy coin economy saw a $2 billion surge. Three months ago, XMR it was trading at $129 per coin, and as of Wednesday, it is trading at $168 per unit. Dash (DASH), which traded at $36.60 per coin, it now changes hands for $65.83. Zcash was trading at $38.37 per coin on November 9, 2022, and as of February 8, 2023, ZEC is trading at $46.90. Although these three privacy coins make up the bulk of the collective value of $6.69 billion, some lesser-known tokens have posted larger gains.
Privacy coin daps coin (DAPS) saw an 884.5% rise in one week, while phore (PHR) surged 110.3% against the US dollar in seven days. Other notable privacy coins that posted gains include raze network (RAZE), up 74.3%, ax (AXE), up 32.9%, and cloakcoin (CLOAK), up 31.8% in the last week . Privacy coin (PRCY), however, saw a 32.3% decline this week, iridium (IRD) fell 17.3%, and spring onion (ONION) lost 16.7% against the dollar. Notable 24-hour gainers include horizonn (ZEN), up 16%, twilight network (DUSK), up 11%, and digibyte (DGB), up 10.6% in fiat value.
What do you think is the future of privacy coins in the cryptocurrency market? Share your thoughts in the comments below.
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