Over the last 90 days, the privacy coin market has seen a modest increase of $2 billion, growing from $4.65 billion on November 9, 2022 to $6.69 billion today. However, privacy coins have lagged behind the growth of top crypto assets like bitcoin and ethereum, which saw gains of 30% or more in the last month.
DASH, the second-largest privacy coin by market capitalization, stood out as an exception, with a growth rate of 38.7% against the US dollar in the past month. Meanwhile, monero (XMR) and zcash (ZEC) saw more modest increases of 8.7% and 10.6% respectively. Currently, the top three privacy coins by market value are XMR, DASH, and ZEC.
Over the past 90 days, monero (XMR) has grown from $129 per coin to $168 per coin, while dash (DASH) has risen from $36.60 to $65.83 per unit. Zcash (ZEC) has also seen a slight increase, growing from $38.37 to $46.90 over the same period.
While these three privacy coins make up the majority of the collective $6.69 billion in value, some lesser-known privacy tokens have seen even larger gains. For example, daps coin (DAPS) has seen an increase of 884.5% in the past week, and phore (PHR) rose by 110.3% against the US dollar in seven days. Other privacy coins that saw growth include raze network (RAZE), up 74.3%, axe (AXE), up 32.9%, and cloakcoin (CLOAK), up 31.8% in the past week.
However, not all privacy coins have seen positive growth. Privacy coin (PRCY) saw a decrease of 32.3% this week, while iridium (IRD) slid by 17.3% and deeponion (ONION) lost 16.7% against the US dollar.
Despite the slow growth in privacy coins, notable 24-hour gainers include horizen (ZEN), up 16%, dusk network (DUSK), up 11%, and digibyte (DGB), up 10.6% in fiat value. As the crypto market continues to evolve, it will be interesting to see if privacy coins can catch up with the growth of leading coins like bitcoin and ethereum.