Verge has been making some serious waves in the crypto ocean! This little privacy coin has surged to the top of the charts, boasting a whopping 51.8% price boost and a jaw-dropping $361 million trading volume in just 24 hours. Talk about making a splash!
On December 11th, privacy coins were the talk of the town, stealing the spotlight with a market rally that left everyone buzzing. Verge (XVG) led the charge, skyrocketing by 37.4% in a single day. Not to be outdone, Zcash (ZEC) and Monero (XMR) joined the party with impressive gains of 15.4% and 12.3%, respectively.
And just when you thought the excitement was over, December 12th brought even more thrills! Privacy coins kept climbing, with their combined value hitting a cool $7.53 billion. NuCypher (NU) was the star of the show, shooting up 85.6% to $0.1805, while Verge continued its climb, reaching $0.01704. XVG's trading volume? A staggering $361 million, the highest among its peers!
The entire privacy coin category saw a 24-hour trading volume of $908.6 million, a solid jump from the previous day's $646 million. That's a lot of action in the crypto arena!
Big players in the privacy coin game also saw some action. Monero (XMR) tacked on an extra 5.7%, bumping its market value to $3.6 billion, with a trading volume of $147 million. Zcash (ZEC) rose 6.9% to $64.33, while Dash (DASH) gained 5.5%, trading at $49.61.
Over the past week, the little-known Cloakcoin (CLOAK) was the superstar, soaring over 104%! But not all privacy coins had a rosy week. Dash dipped 13.5%, ZEC dropped 11.4%, and Verge slipped 6.7%. Monero held its ground better, with only a 0.8% decline.
Privacy coins are all about keeping your transactions on the down-low, using cutting-edge cryptographic techniques like ring signatures and stealth addresses. However, their secretive nature has caught the attention of law enforcement. In July, Dubai's financial regulators banned transactions involving privacy coins like XMR and ZEC to curb money laundering and insider trading.
Back in 2018, Japan's financial watchdog also threw up a red flag, leading major exchanges like Huobi and Bittrex to delist these hush-hush coins. Earlier this year, Japanese authorities nabbed 18 suspects in a Monero-related scam, allegedly laundering over $670,000.
So, while privacy coins offer a cloak of anonymity, they also come with a side of controversy. Keep your eyes peeled as this story continues to unfold in the ever-dynamic world of crypto!
