Since the end of April, the total value of the top privacy cryptoassets by market capitalization has risen from $10.7 billion to around $5.09 billion today. During this period, Monero has lost 48% in value, while zcash has lost 56% against the U.S. dollar.
Privacy coin economy loses billions since end of April
Top 5 Privacy Crypto Monero (XMR), zcash (ZEC), decred (DCR), nucypher (NU) and horizen (ZEN) have depreciated significantly over the past two months. On April 28, 2022, archived data shows that the top privacy cryptoasset by market capitalization is worth $10.7 billion.
Since then, all privacy-focused coins have lost 54% in 54 days. XMR Changed hands at $227.96 then and today XMR is $123.15. ZEC is trading at $148.92 per unit and is currently changing hands at $68.61 per unit.
Also, Cosmos-based Secrets (SCRT) used to be the fourth largest privacy coin, but today it ranks sixth. Horizen (ZEN) was sixth at the time, but is fifth today.
Likewise, nucypher (NU) jumped from fifth to fourth place in terms of privacy-focused coins by market valuation.although XMR The coin has lost 48% in value since April 28, and the metric is down 32% in the past 30 days.
Since that day, ZEC has lost 56%, but in the last month, ZEC’s dollar value has slipped by 37%. While the biggest privacy coin in terms of market cap has seen seven-day single-digit gains over the past week, some lesser-known privacy cryptocurrencies have seen double- and triple-digit gains.
Zclassic (ZCL) is up over 129%, scala (XLA) is up 105%, cloakcoin (CLOAK) is up 57.7% and firo (FIRO) is up 19.5% over the past week. However, privacy coin kurrent (KURT) fell 43.1%, mimblewimble coin fell 23.7%, and ghost (GHOST) fell 19% last week.
Monero and zcash are the top two privacy coins today in terms of market capitalization, with these two coins valued at $3.082 billion out of $5.09 billion. XMR ZEC accounts for 60.55% of the combined market capitalization of all privacy coins.
What do you think of the current state of privacy coins and how they have performed in the market over the past two months? Let us know what you think about this topic in the comments section below.
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