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Crypto Anonymity Comeback: Monero Soars in Privacy Coin Frenzy
Monero (XMR), the leading privacy coin by market capitalization, experienced a 14.7% jump in just 24 hours, with a week-long gain of 24.5%. Trading between $199.84 and $211.07, it remains 63% below its all-time high of $542 from 2018.
XMR/USD on Dec. 4.
In contrast, zcash (ZEC), the second-largest privacy coin, slipped 1% on Wednesday but posted a 25.3% increase over the past week. Dash (DASH) had a solid 5.2% rise midweek and is up an impressive 57% this week. Meanwhile, beldex (BDX) saw a 1.5% dip both daily and weekly. Decred (DCR) grew 8.8% on Wednesday and 33% for the week, while verge (XVG) climbed 7.3% in a day and an eye-popping 168% over seven days.
XVG/USD on Dec. 4.
Mimblewimble coin (MWC) inched up by 2.3% on Wednesday, marking a modest 1.6% weekly gain. Zano (ZANO) declined 0.8% on Dec. 4 but showed a 5.7% improvement for the week. At press time, privacy tokens as a group reached a market cap of $7.68 billion, following a 10.1% increase in the last 24 hours. Beyond the major players, lesser-known tokens like haven (XHV) soared 389%, and iridium (IRD) jumped 49.5% in the same period.
This resurgence in the privacy token space reflects growing enthusiasm for decentralized anonymity solutions. While top contenders such as XMR and DASH display consistent growth, the meteoric rises of smaller tokens like XHV and IRD suggest an increasing appetite for diverse investments in the crypto sector.