Privacy coins monero and zcash managed to see smaller percentage losses against the USD this week, in contrast to crypto assets like bitcoin, ethereum, and solana In the seven-day statistics, zcash lost 5.6 percent against the U.S. dollar, while monero dropped 6.1 percent.
PrivacyCoin managed to stave off a market massacre this week, but is down 62% from nine months ago
At the time of this writing, the market capitalization of all existing privacy coins (18) is approximately $; $5.55 billion. Monero (XMR)stands out from the pack with a market capitalization of approximately $2.64 billion, representing 47.5% of the total privacy coin economy. Zcash (ZEC)is the second largest privacy coin in terms of market capitalization, as ZEC’s overall market valuation today is $789 million.
33} behind XMRand ZEC are decred (DCR), nucypher (NU), secret (SCRT) respectively, horizen (ZEN), ergo (ERG), digibyte (DGB), and beldex (BDX), among other privacy tokens. The top privacy coin double-digit gainers this week are diponion (ONION), light cash (CASH), pivx (PIVX), and masari (MSR). Top privacy coin losses this week include tokens such as zclassic (ZCL), lethean (LTHN), and phore (PHR).
The top five privacy coin crypto assets account for most of the $5.55 billion privacy coin value, with each token offering a different type of privacy technology Offering. XMRisCryptonotetoken with a blockchain protocol that has not forked from Bitcoin. XMRuses ring signatures, ring confidential transactions, stealth addresses,bulletproofandDandelion++. the ZEC network can protect transactions by leveraging zero-knowledge proofs calledzk-SNARKs
Decred (DCR)utilizes amixed scheme calledCoin Shuffle++ (CSPP) to obfuscate transactions. Coin Joincalled Coin Shuffle++ (CSPP) utilizes amixing scheme called Coin Shuffle++ (CSPP)to obfuscate transactions. Nucypher (NU)deploysProxy Re-Encryption (PRE), a technology that allows the owner of a private key to encrypt data, similar to NU. Secret (SCRT)blockchain provides key management technology,the Trusted Execution Environment(TEE) scheme combined with encryption to enhance privacy.
privacy coins didn’t take much of a hit this week compared toETHandBTC 81} privacy coins took less of a hit compared to ETH and BTC, but still lost considerable value last year Four months ago, the privacy cryptocurrency economy was worth $10.7 billion more. The overall market valuation of XMRwas $4.13 billion, while ZEC was valued at $1.84 billionOn April 28, 2022and nine months agoon November 6, 2021
As of November 2021, Hollisen (ZEN) occupied fifth place in privacy coins by market capitalization and NU was not in the top five. XMR‘s overall market capitalization was $4.69 billion; ZEC’s market capitalization on November 6, 2021 was $1.94 billion, slightly higher than the record set on April 28, 2022; in November 2021,XMR‘s market capitalization and ZEC’s combined, was larger than today’s privacy coin economic value.
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