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Privacy Coins Post Double-Digit Gains, Defying Market Slump

Privacy coins, including Dash and Zcash, surged in value while the broader cryptocurrency market slumped, with Bitcoin dropping below $104,000. Analysts attribute this rally to investors seeking anonymity amidst increasing scrutiny of Bitcoin and a growing interest in privacy-focused assets. Dash saw a significant increase, primarily driven by whale accumulation, with the top 100 addresses holding 37% of its supply. Zcash also experienced dramatic growth, with its value more than tripling in under two weeks, fueled by retail interest and significant investor shifts into privacy coins. This trend coincides with tightening global regulations requiring exchanges to report wallet ownership, positioning privacy assets as viable options for maintaining transactional anonymity. Retail engagement in privacy tokens has reached unprecedented levels, further supporting the rally, which has defied the general downturn in the crypto market. Overall, the movement appears to stem from a combination of whale activity, fear of missing out (FOMO) among retailers, and a heightened demand for privacy in financial transactions.

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Record $1.26B Outflow Hits BlackRock Bitcoin ETF as Bearish Options Cost Soars

BlackRock's Bitcoin ETF, IBIT, has encountered a monumental net outflow of $1.26 billion in November, marking the most significant withdrawal since its inception in January 2024. This outflow comes amidst a price decline of 16%, bringing the share price down to $52, a level not seen since

Mastercard Picks Polygon to Bring Verified Usernames to Self-Custody Wallets

Mastercard has announced its collaboration with Polygon to introduce a system allowing users to send cryptocurrencies using verified usernames instead of lengthy wallet addresses. This new feature, referred to as the Mastercard Crypto Credential, aims to enhance security and user-friendliness in crypto transactions. By utilizing the services of Mercuryo, a

Bitcoin Dominance is Bleeding With Price, But Market Observers Say Altcoin Season is on Hold

Bitcoin's recent decline in price and dominance rate indicates a broader market deleveraging rather than a straightforward rotation into altcoins. While Bitcoin has dropped nearly 16% this month, its dominance has slipped from 61.4% to 58.9%. Despite speculation about an upcoming 'altcoin season', many

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