Major Privacy Coins Have Seen Smaller Percentage Losses Than Many Tokens This Week – PrivacyBitcoin News

Privacy coins monero and zcash have seen smaller percentage losses against the US dollar this week, unlike crypto assets like bitcoin, ethereum and solana. In seven-day data, zcash is down 5.6% against the USD, while monero is down 6.1%.

Privacy coins may have avoided some of this week’s market carnage, but are still down 62% from 9 months ago

At the time of this writing, the total market capitalization of all privacy coins is approximately $5.55 billion. Monero (XMR) leads the pack with a market cap of around $2.64 billion, or 47.5% of the total privacy coin economy. Zcash (ZEC) is the second largest privacy coin by market capitalization, ZEC’s total market cap today is $789 million.

The top privacy coins have seen smaller percentage losses this week than most tokens.
August 29, 2022 Top Five Privacy Coins by Market Value.

Behind XMR and ZEC are privacy tokens such as certified (DCR), nucypher (NU), secret (SCRT), horizen (ZEN), ergo (ERG), digibyte (DGB), and beldex (BDX), respectively. This week’s top privacy coin double-digit earners include Deeronion (ONION), litecash (CASH), pivx (PIVX), and Masari (MSR). In terms of percentage loss, the week’s top privacy coin losers include tokens such as zclassic (ZCL), lethean (LTHN), and phore (PHR).

The top privacy coins have seen smaller percentage losses this week than most tokens.
XMR/USDT 1H Chart.

The top five privacy coin crypto assets account for most of the $5.55 billion in privacy coin value, and each token offers different privacy techniques. XMR is a cryptocurrency token with a blockchain protocol that is not decoupled from Bitcoin. XMR uses ring signatures, secret transaction rings, hidden addresses, bullet proofs, and Dandelion++. The ZEC network can protect transactions using zero-knowledge proofs called zk-SNARKs.

The top privacy coins have seen smaller percentage losses this week than most tokens.
ZEC/USDT 1H Chart.

Decred (DCR) uses a Coinjoin hybrid method to hash transactions. NuCypher (NU) deploys Proxy Re-Encryption (PRE) technology to encrypt private key owner information. Similar to NU, the SCRT blockchain combines key management techniques, Trusted Execution Environment (TEE) schemes with encryption to increase privacy.

While privacy coins took a bit of a beating this week compared to ETH or BTC, they still lost very little value over the past year. Four months ago, the privacy cryptocurrency economy was worth more than $10.7 billion. The total market cap of XMR was $4.13 billion and that of ZEC was $1.84 billion on April 28, 2022. Nine months ago, on November 6, 2021, the privacy token economy was $14.9 billion.

At that time in November 2021, NU was not in the top five, as horizen (ZEN) was the fifth largest privacy coin by market value. The total market cap of XMR was $4.69 billion. ZEC’s market capitalization on November 6, 2021 was slightly higher than it was on April 28, 2022 at $1.94 billion. In the year In November 2021, the market value of XMR and ZEC was greater than the economic value of the privacy coin today.

Tags in this story

Bulletproofs, CoinJoin, Dandelion, Minus, Horizon, Coin Join, Monero, Nucypher, privacy, privacy assets, privacy coins, privacy crypto, privacy techniques, privacy tokens, secret transactions ring, ring signatures, secret, hidden addresses, xmr, Zcash , ZEC, Zen.

What do you think about the privacy coin market action in the near future? Let us know what you think about this in the comments section below.

Jamie Redman

Jamie Redman is the news lead at and a financial tech journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written over 5,700 articles for News about the disruptive protocols emerging today.

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