Privacy-focused cryptocurrencies are on the rise this week, with their total market value climbing close to $14.4 billion. According to CoinGecko data, this represents an increase of about 0.7% in the last 24 hours.
Monero and Zcash Lead the Rally
Among the top performers, Monero (XMR) and Zcash (ZEC) continue to dominate the sector, with market caps exceeding $6.2 billion and $5.6 billion respectively.
At the time of writing, Monero was trading at $340, a modest 0.7% increase over the last 24 hours. This adds to a 10.4% surge observed over the past seven days. This upward movement is attributed to increasing trading activity, which recorded over $155 million in trading volume as of today.
Zcash (ZEC), the second largest token in the privacy sector, was trading at $336. Unlike Monero, Zcash is down by 2.4% from the previous day. However, it has surged over 24% in the last seven days. Zcash is also experiencing high trading activity, reaching over $720 million in volume. Over the last three months, the token has seen a substantial surge of 795% in value.
Several other major privacy tokens have also been performing well, albeit with lower market capitalizations. For instance, Ycash has surged by over $210 in the last seven days, bringing its market cap up to $34,549. Pirate Chain has seen a 33.4% increase over the same period, with a market cap of $117 million.