Recent weeks saw a massive surge of the so-called privacy coins’ prices — namely Monero (XMR), Dash (DASH), Zcash (ZEC) and Haven Protocol (XHV). As many other cryptocurrencies and the industry at large faced immense regulatory pressure amid the war in Ukraine, one narrative that began taking hold in the crypto space was the potential of such privacy-enhancing assets to provide investors a greater level of financial anonymity. But, can privacy coins deliver on Bitcoin’s (BTC) original promise?
A good month for privacy-focused assets
Over the past month, Monero has almost doubled its tally. With some minor oscillations, it rose from $134 on Feb. 24 to over $200 on March 26. ZEC showed even more impressive dynamics that hiked from $88 to $202 over the same period. DASH also pulled off a rally, if a bit more modest, from $83 to $128. One of the biggest winners appeared to be XHV, which has almost tripled its price from $1.60 to $4.20.