Crypto investors flee visibility for anonymity as privacy coins surge 80%

Crypto investors are rediscovering the importance of financial privacy, as privacy-preserving cryptocurrencies outperform a broader crypto market slump.

Investor demand for financial privacy is fueling a rally in privacy-preserving cryptocurrencies, signaling renewed interest in self-sovereign blockchain transactions.

The market capitalization of privacy-preserving cryptocurrencies rose by about 80% over the past week to briefly surpass $24 billion earlier on Monday before retracing 2.9% to $23.7 billion at the time of writing, according to data aggregator CoinGecko.

Dash (DASH) and Zcash (ZEC) were among the best-performing privacy coins last week, with 65% and 9.55% gains, respectively.

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