Four Privacy Coins Record Double-Digit Gains, Monero Up 58% In 30 Days
Bitcoin and a number of altcoins have seen significant gains during the last month. However, several privacy-focused crypto assets have also went up in value. Monero gained 19.4%, Horizen jumped 6.8%, and zcash has spiked over 7% during the last seven days.
Privacy-Coins Up Double-Digit Gains Over 30 Days
Six of the most popular privacy coins have recorded decent gains during the last month and over the last week. One of the biggest gainers is monero (XMR) which has gained 14.2% in the last day, 19.4% for the week, and 25.8% during the last two weeks. 30-day statistics show XMR has spiked by over 58% and year-to-date, XMR is up 240%.
Monero stems from the first Cryptonote implementation, the Bytecoin network, which was launched in July 2012. However, people didn’t like Bytecoin’s distribution and a new chain was crafted called “Bitmonero,” which was later changed to Monero. The Monero network offers privacy techniques like ring signatures, stealth addresses, “Bulletproofs,” and privacy features are enforced by default.
Dash (DASH) is another crypto asset that allows for private transactions. The crypto asset created in 2014 (formally called Darkcoin) is up 16.6% during the last 24 hours. Dash jumped 28.2% this week, and 89.5% over the last month. Year-to-date, the crypto asset dash (DASH) has jumped 198% in value.
Dash users can choose whether or not their transactions will be private or not. Users who choose to send coins in an anonymous fashion can leverage the network’s private send feature which is a coinjoin-based mixing service powered by a network of servers called master nodes. Out of more than 10,000 crypto-assets in existence, dash is ranked 56 by market cap on August 23, 2021.
The token horizen (ZEN) is up today as it has gained 3.7% during the last 24 hours. Horizen is the native token and the network allows participants to control their digital footprint. Horizen (ZEN) leverages privacy features like zk-SNARKS, TLS integration, domain fronting, distributed publishing, client-to-node encryption, and end-to-end encryption.
Two-week stats show ZEN has jumped 20.6% and year-to-date, ZEN is up 677%. At press time the entire horizen (ZEN) market is valued at $874 million and ranked 113 out of 10,000 crypto assets in existence. Out of the $2.21 trillion crypto economy, ZEN’s market dominance is only 0.04%.
Zcash (ZEC) is up 3.5% today and during the last week, zcash has spiked by 4.5%. Monthly statistics show ZEC is up 64.5% and year-to-date, zcash is up 109%. Zcash stems from an idea in 2014 when zerocoin developers introduced a paper that discusses a cryptographic principle called a “zero-knowledge proof.” The zcash (ZEC) coin leverages a zero-knowledge proof that is called zk-SNARKs.
Zcash has an overall market capitalization of around $1.8 billion today and is ranked 74 out of the 10,000 assets within the crypto economy. Zcash participants also have the choice to send funds from transparent addresses or a shielded address which introduces better privacy.
Privacy Coins Doing Well Despite Exchange Delistings
Privacy coins have done well during the last year, but many of them have not done as well in terms of 12-month gains. However, privacy coins have more obstacles as a number of privacy-centric crypto assets have been delisted from popular cryptocurrency exchanges over the last two years.
