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Interest in privacy coins remains lukewarm as leading coins report modest gains in 2023 – altcoins

In the last 90 days, the after market capitalization The top privacy coins are up just over $2 billion, from $4.65 billion on November 9, 2022 to $6.69 billion today. While crypto assets like Bitcoin and Ethereum However, with gains of 30% or more in 30 days, privacy tokens such as Monero and Zcash a more modest increase, with growth ranging from 8.7% to 10.6% over the last month.

Top privacy coins see slow growth as market cap increases by just $2 billion in 90 days

Statistics show that crypto assets with the highest level of privacy saw less growth than the top two crypto assets, Bitcoin and Ethereum, over the past month. However, a privacy coin, dash, the second largest privacy token by market cap, has seen a notable 38.7% gain against the greenback over the past month. Meanwhile, Monero (XMR) is up 8.7% in value and zcash (ZEC) is up 10.6% over 30 days. Currently, the top three privacy coins by market value are XMR, DASH, and ZEC.

90-day stats show that while Monero (XMR) and Zcash (ZEC) posted modest gains, the privacy coin economy saw a $2 billion surge. Three months ago XMR was trading at $129 per coin and as of Wednesday it is trading at $168 per unit. Dash (DASH), which was trading at $36.60 apiece, is now changing hands at $65.83. Zcash was trading at $38.37 per coin on November 9, 2022 and on February 8, 2023 ZEC is trading at $46.90. Although these three privacy coins make up the bulk of the $6.69 billion total value, some lesser-known tokens have seen larger gains.

Privacy coin Daps coin (DAPS) is up 884.5% in a week, while Phore (PHR) is up 110.3% in seven days against the US dollar. 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 past week. However, privacy coin (PRCY) is down 32.3% this week, Iridium (IRD) slipped 17.3% and Deeponion (ONION) lost 16.7% against the greenback. Notable 24-hour gainers include Horizen (ZEN) up 16%, Dusk Network (DUSK) up 11% and Digibyte (DGB) with a plus of 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.

Interest in privacy coins remains lukewarm as leading coins report modest gains in 2023 – altcoins, Crypto Trading News

Jamie Redman

Jamie Redman is the news director at News and a Florida-based financial technology journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for News about today’s emerging disruptive protocols.

photo credit: Shutterstock, Pixabay, WikiCommons

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Source: Crypto News Deutsch

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