Privacy Coins See Modest $2B Increase in Last 90 Days
• The top privacy coins by market capitalization have seen a modest increase of $2 billion in the last 90 days.
• The top two crypto assets, Bitcoin and Ethereum, saw an increase of 30% or more in 30 days, while privacy tokens like Monero and Zcash saw more modest gains, with growth ranging from 8.7% to 10.6% in the last month.
• Dash (DASH), which is the second largest privacy token by market capitalization, saw a significant increase of 38.7% against the greenback last month.
Over the past three months, the top privacy coins by market capitalization have seen a modest increase of $2 billion, rising from $4.65 billion on November 9, 2022 to $6.69 billion today. While the two leading crypto assets, bitcoin and ethereum, have seen gains of 30% or more in the last thirty days, the top privacy tokens have had more modest increases.
Monero (XMR) saw a rise of 8.7% in value and is currently trading at $168 per coin compared to its trading price of $129 on November 9, 2022. Zcash (ZEC) increased by 10.6%, currently trading at $46.90 per coin compared to its value of $38.37 three months ago.
However, one privacy coin, dash (DASH), has seen a more significant increase of 38.7% against the greenback in the last month. Dash (DASH) is the second largest privacy token by market capitalization and was trading at $36.60 per coin on November 9, 2022. As of February 8, 2023, DASH is changing hands for $65.83.
In addition, some lesser-known privacy coins have recorded larger gains. Daps coin (DAPS) rose by 884.5% in one week and Phore (PHR) increased by 110.3% against the U.S. dollar in seven days.
Overall, the privacy coin economy has increased by $2 billion in the last 90 days, although the growth of the top privacy tokens has been much more modest compared to the top two crypto assets, bitcoin and ethereum. It remains to be seen whether the overall market capitalization of the privacy coins will continue to rise or if the gains made in the last three months were a one-off event.