Privacy-Centric Coins See Fresh Gains, Monero Captures All-Time Price High

Sunday 09 May 2021, 3:31 PM AEST - 1 month ago

Privacy-Centric Coins See Fresh Gains, Monero Captures All-Time Price High

On May 7, the privacy-centric crypto asset monero captured an all-time high at $515 per unit, as demand for confidential transactions has increased in recent times. Monero has gained more than 190% during the last three months, while a number of other privacy coins like zcash, verge, horizen, and grin have seen significant gains as well.

Monero XMR Taps a New ATH Before Most Privacy Coins

While cryptocurrencies have been growing wildly in value, the climate of regulation has stepped up a great deal. Governments and blockchain surveillance firms worldwide have been making themselves right at home in this industry. Interestingly, as the regulatory crackdowns increase and exchanges delist privacy coins, it has pushed demand even higher.

In 2021, privacy coins have been moving northbound and on Friday, monero (XMR) touched an all-time high (ATH). Monero was conceived in 2014 and the open-source code is not a fork of bitcoin (BTC), but a proof-of-work (PoW) digital asset based on the Cryptonote application.

Privacy-Centric Coins See Fresh Gains, Monero Captures All-Time Price High

XMRs blockchain is considered an obfuscated public ledger and it utilizes ring signatures, one-time stealth addresses, and a non-interactive zero-knowledge proof (NIZKP) protocol called bulletproofs. Governments like the U.S. are aware of Moneros privacy benefits and have even offered to pay for a tool that cracks the secrecy features.

XMR has gained more than 17% this week and 74% duri ...

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