Privacy-focused cryptocurrencies, such as Monero, are roaring back, with the total market capitalization of these coins surpassing the $62 billion mark for the first time since 2021.
Leading the charge are Dash (DASH) and Zcash (ZEC), which have soared 75% and 21%, respectively, in the past 24 hours, according to CoinGecko. Their weekly gains of over 200% for Dash and 45% for Zcash reflect the sector’s renewed momentum even as Bitcoin slipped below $105,000.
Data from Artemis reveals that privacy coins have outperformed the broader crypto market, delivering nearly 80% monthly returns, while Bitcoin and Ethereum struggled amid a broader market correction. Analysts attribute this surge to a rising preference for transactional anonymity and self-custody.
Monero rebounded from its $339 support level, triggering buy orders and renewed interest from both retail traders and privacy advocates. Currently priced around $346.56, XMR is up 1.48% daily with trading volume surging 38% to $230.96 million, signaling strong buyer conviction.
Technical indicators paint a cautiously bullish picture: the RSI at 59.7 suggests healthy momentum, while a positive MACD histogram (+1.53) supports a potential move toward the $361 resistance level.
Analysts warn, however, that a break below $339 could expose the coin to downside risk near $320. Sustained volume above $226 million is seen as key to validating any breakout attempt.
Monero’s stability in network essentials, such as rising hashrate and shielded transaction adoption, cements its position as a frontrunner in this comeback story. Industry analysts suggest that if current momentum continues, Monero could reclaim its dominance and push the privacy sector’s valuation even higher.
In a market dominated by regulation and surveillance, privacy coins like Monero, Zcash, and Dash are demonstrating that financial anonymity remains a need in the blockchain future.
Cover image from ChatGPT, XMRUSD chart from Tradingview
