The days of privacy coins have arrived, with 13 tokens rising by double digits
As regulation has tightened and policymakers around the world scrutinize the use of cryptocurrencies, a number of privacy-focused cryptoassets have seen hundreds of double-digit gains in share over the past seven days.
Monero, Secret, Dusk Network made strong gains
According to data from Coingecko, the total capitalization of private altcoins is currently $12.2 billion.
Monero (XMR) is currently trading at $211.4 with the largest market valuation in the privacy coin space. It’s up 15.9% over the past seven days and up more than 38% since that time last year.
XMR/USD price chart | Source: Trade View
Zcash (ZEC) holds the second largest valuation in the private crypto market at $1.6 billion. Despite falling 3.6% over the past seven years, ZEC is up 24% on the annual time frame.
Secret (SCRT) is up 50% this week and now has a market valuation of $1.4 billion. Decred (DCR) is also up more than 14% for the week and has a market valuation of $924 million. Dusk Network (DUSK) is up more than 47% in seven weeks and has a market valuation of around $390 million.
Top 10 private altcoins by market cap | Source: Coinecko
30 altcoins focused on green privacy all week
Other notable privacy altcoins to see double-digit gains this week include Bitcoinz (BTCZ), Apollo (APL), Veil (VEIL), Masari (MSR), and Bitcoin Private (BTCP).
A total of 8 privacy altcoins outperformed XMR’s 15.9% weekly gain. However, XMR’s market valuation accounts for 32.25% of the total value of all private altcoins, while ZEC’s market cap accounts for just 12.9%.
Top 8 altcoins that have outperformed XMR this week | Source: Coinecko
While 13 privacy altcoins posted double-digit gains this week, 30 altcoins in the sector posted weekly gains in the 1% range.
SCRT has a market cap of $1.44 billion, the third largest in the private money market with an 11.29% share, closely followed by DCR, which accounts for 7.14% of the total $12.2 billion.
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