Summary
- Reported that the market capitalization of privacy coins surged about 80% in a week, significantly increasing investors' demand for privacy coins.
- Stated that major privacy coin assets such as Dash (DASH) and Zcash (ZEC) rose 65% and 9.55% respectively, showing a trend contrasting with the broader cryptocurrency market's downturn.
- Said that technical improvements, such as Zcash's adoption of the 'Zashi' (Zashi) wallet and Solana (Solana) integration, are improving accessibility to privacy coin trading.
Cryptoasset (cryptocurrency) investors are reassessing the importance of financial privacy, and demand for privacy coins is surging.
On the 3rd (local time), Cointelegraph reported that the market capitalization of privacy coins rose about 80% compared with last week, once surpassing 24 billion dollars. After a 2.9% correction, it is currently around 23.7 billion dollars.
According to CoinGecko data, Dash (DASH) and Zcash (ZEC) rose 65% and 9.55% respectively, listed as major gainers. This contrasts with the overall cryptocurrency market's 3.7% decline over the same period. This shows that investors are increasingly preferring anonymity- and self-sovereignty-based transactions.
Privacy coins encrypt sender, receiver, and transaction amount information, providing a higher level of anonymity than pseudonymous assets like Bitcoin. Zcash and Monero (XMR) are cited as representative privacy coins.
Jake Kennis, a Nansen analyst, said, "Privacy is now seen not as a feature but as a necessity," adding, "This is reviving ideological demand for personal-sovereign transactions." He also explained, "Technical improvements such as Zcash's adoption of the 'Zashi' wallet and Solana (Solana) integration are increasing accessibility to privacy transactions."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
