Privacy Coins Post Double-Digit Gains, Defying Market Slump
Privacy tokens such as Dash and Zcash surged significantly while Bitcoin fell below $104,000, prompting a shift as crypto investors seek anonymity. With total crypto liquidations exceeding $1 billion, Dash experienced a remarkable 54% gain, driven largely by whale activity, as the top 100 addresses hold a significant 37% of its total supply. Analysts attribute this uptick to increasing institutional scrutiny on Bitcoin and a heightened interest in the privacy offered by tokens like Zcash. Google Trends indicate a record level of retail interest in privacy coins, with Dash being bolstered by integrations and listings that enhance trading volume. As regulatory pressures mount, privacy tokens are becoming sought after options for investors looking to maintain transactional anonymity amidst growing scrutiny of major cryptocurrencies like Bitcoin.
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