It’s been tough for us, as the crypto winter has sapped a lot of value from our once vibrant economy. For example, the privacy coin economy has fallen from his $11.7 billion in January 2022 to his $5.22 billion today, so he’s down more than 55% against the US dollar.
Privacy economy loses 55% to greenbacks, European Union to ban anonymizing crypto
Is not … Recently, the hype and debate around decentralized finance (defi) and non-fungible tokens (NFTs) has overshadowed the privacy coin conversation.
Moreover, over the past 12 months, the privacy coin economy has slumped from $11.7 billion to $5.22 billiontoday. Last January, the top two privacy tokens included Monero (XMR) and Zcash (ZEC).
At the time, monero was, and still is, the largest privacy coin by market capitalization. In January 2022, XMRwas priced at approximately $202.97 per unit, with a market valuation of approximately $3.66 billion on January 19, 2022.
Today,XMR is trading at around $142.35 per coin, with an overall market cap of around $2.58 billion. Zcash holds the second largest privacy coin market valuation this year, at around $1.53 billion in January.
As of the end of December 2022, ZEC’s market capitalization has fallen to $517 million. The top five privacy coins by market capitalization in January 2022 include monero (XMR), zcash (ZEC), secret (SCRT), decred (DCR), and horizen (ZEN). was
According to December 2022 statistics, the top five privacy coins are Monero (XMR), Zcash (ZEC), Dash ( Containsdash), decred (DCR), beldex (BDX). XMRand ZEC have a market capitalization of approximately $3.1 billion, representing 59.4% of the total privacy coin economy.
In January 2022,XMR and ZEC were valued at $5.19 billion, accounting for just 44.36% of the total privacy coin economy. Today, the top two privacy coins by market capitalization have more of an edge. It was reported to potentially ban privacy coins such as DASH. “The European Union could ban banks and crypto providers from dealing in privacy-enhancing coins like Zcash, Monero and Dash under a leaked draft of money laundering bill obtained by Coindesk. Yes,” the publication noted on 15 November 2022.
Due to government policy decisions and proposed guidelines, many cryptocurrency exchanges around the world have delisted privacy coins such as XMR and ZEC. The lack of a listing makes Privacy Coin significantly less liquid and more susceptible to price fluctuations.
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