Privacy Coins Slide as Monero, Zcash Lead Losses
Privacy-focused cryptocurrencies like Monero (XMR) and Zcash (ZEC) led declines in the digital asset market, each falling about 8% in 24 hours, surpassing the broader privacy coin average drop of 5.8%. Over the past week, Monero and Zcash are down nearly 20% and 26%, respectively, following previous rallies. Zcash’s trading volume reached around $399 million, and Monero’s was about $125 million daily. Prediction markets reflect bearish sentiment, assigning low odds to Zcash recovering previous highs soon. The current selloff is attributed to broader market caution and persistent regulatory pressures, as privacy coins face delistings and exchange access restrictions due to compliance demands, notably from the EU. This trend reduces liquidity and institutional participation. Newly listed privacy token Zama also fell sharply. Despite market challenges, privacy advocates argue that privacy remains essential for mainstream crypto adoption, suggesting that opt-in models weaken privacy, while default privacy is critical for practical usage in real-world transactions.
