Despite the fact that regulations have tightened and bureaucrats worldwide are scrutinizing cryptocurrency usage, a few privacy coins have jumped considerably higher in value over the last week. Monero jumped 13% during the last seven days, while the token secret increased 50%, and dusk spiked by 47% this past week.
Monero, Secret, Dusk Network Values Spike
This week a few privacy-centric crypto assets have seen double-digit percentage gains over the last seven days. According to metrics stemming from coingecko.com’s list of privacy coin market capitalizations, there’s $12.2 billion worth of these types of assets.
Monero (XMR) has the largest market valuation on January 17, 2022, with $3.9 billion. The past 24-hour range of trading shows that XMR has been exchanging hands for $212.45 to $229.66 per unit. Over the last seven days, monero (XMR) has increased 13% against the U.S. dollar. Year-to-date, XMR is up more than 38% since this time last year.
Zcash (ZEC) holds the second-largest privacy coin market valuation with $1.6 billion. However, ZEC has shed 3.6% during the last seven days of trading. Since this time last year, zcash has gained 24% in value against the U.S. dollar.
The crypto asset secret (SCRT) spiked 50% during the last week and SCRT currently has a market valuation of around $1.4 billion. Decred (DCR) managed to increase in value over 14% during the last week as well. Dusk network (DUSK) jumped over 47% in value over the last seven days and has a market valuation of around $390 million.
30 Privacy-Centric Coins Made Gains This Week, 8 Privacy Tokens Outpaced Monero’s Gains
Other notable privacy coin spikes in value this week stemmed from coins like bitcoinz (BTCZ), apollo (APL), veil (VEIL), masari (MSR), and bitcoin private (BTCP) respectively. All of these aforementioned privacy tokens saw double-digit gains against the USD this past week.
A total of eight privacy tokens outpaced monero’s (XMR) 13% weekly gain. However, XMR’s market valuation represents 32.25% of the aggregate value of all the privacy coins while ZEC’s market cap dominates by 12.90% this week.
A total of 15 privacy-centric cryptocurrencies saw double-digit gains this week, while 30 privacy coins in total have seen weekly gains in general above the 1% range.
Secret (SCRT), the third-largest privacy coin market cap, represents 11.29% of the $12.2 billion worth privacy tokens today. Decred (DCR) represents 7.14% of today’s $12.2 billion privacy coin-centric crypto economy.
What do you think about the privacy coin markets this past week and the double-digit gains coins like monero, secret, and dusk network saw? Let us know what you think about this subject in the comments section below.