Monero (XMR) Poised For Gains Among Top Privacy Coins In 2022

Monero (XMR) is currently trading at a price of $146.39, Recording An increase of 1.39% in the last 24 hours. While it has been battered by crypto winter in particular as other cryptocurrencies, the fear, uncertainty and doubt (FUD) surrounding the coin as a privacy coin has helped it recover in recent days.

Its recovery becomes even more apparent when its growth is placed side by side with other privacy coins including Dash (DASH) and Zcash (ZEC). According to data from CoinGecko, at current prices, Monero has lost only about 30% of its value value in the past year.

In contrast, Dash is down 68.2% year-to-date and is currently changing hands at $43.38, while Zcash comes in as the most battered privacy coin of the pack with a 74.7% drop over the same time period. is $38.06.

Not only has Monero maintained its relevance in price as a leading privacy coin, it also has the highest transaction volume ever among all the privacy coins under review. With an active contributor community, the Monero project is being touted as having the potential to revolutionize the decentralized payments ecosystem.

Monero and Regulation

The entire fundamentals surrounding cryptocurrencies hinge on pseudo-anonymity which makes parts of transactions obscure to the public. In the case of Monero, transactions are completely anonymous, pitting it against regulators who believe it is a safe medium for the circulation of illicit funds.

Regulatory actions to ban privacy coins once caused much fear in the industry; However, the high-profile implantation of companies in the crypto ecosystem this year has derailed the pressure in this regard. For the time being, Monero and other privacy coins still maintain a strong price action from time to time, and with increased penetration, the coin is bound to increase its relevance over time.

source: u.today