Privacy Tokens Surge with Zcash Up 40% and Railgun 117%
Privacy-focused tokens are experiencing a significant resurgence, reminiscent of their popularity during the 2017-18 bull market. According to CoinGecko, these tokens have increased by 15% on average in the past 24 hours.
- Zcash (ZEC) surged over 40%, with a week-long gain exceeding 85%, becoming the top-performing large-cap token.
- Dash (DASH), Verge (XVG), Decred (DCR), and Tornado Cash (TORN) saw increases between 13-35% within the last day.
- Railgun's RAIL token rose more than 117%, achieving over 300% growth over the week.
- Trading volumes are increasing, with ZEC alone reaching $1.1 billion in spot volumes across exchanges.
The renewed interest in privacy tokens aligns with a moment when major cryptocurrencies like Bitcoin and Ether are stabilizing after recent highs.
Tech-led price surge
- Monero’s XMR remains the leading privacy option, bolstered by the recent 'Fluorine Fermi' update enhancing privacy against spy nodes.
- Railgun's increase reflects focus on its smart contract-based shielded transactions.
- Zcash’s rally is supported by Zashi mobile wallet integrations, enabling cross-chain swaps into shielded ZEC.
- Dash has gained attention amid discussions on stablecoin regulation.
Investors appear to be positioning for regulatory changes, as privacy tokens continue to show strength amidst broader market narratives such as AI, meme, and infrastructure coins. Current economic uncertainties and censorship debates provide a conducive environment for privacy-centric investments to align with Bitcoin's hedge narrative.