The Expected Collapse of Privacy Coins Never Came
Many will remember the severe SEC crackdown a few years ago. There was a lot of concern, even fear, regarding projects that had issued ICOs and how they were potentially targets for the SEC. Regulatory pressure caused many exchanges to delist popular privacy coins such as Monero (XMR) and Zcash (ZEC).
Many interpreted this as the beginning of the end for privacy coins. They expected privacy coin enthusiasts to offload these assets during the grace period that exchanges offered holders. Many expected a liquidity restriction to be a fatal blow.
In reality, privacy coins did not collapse as expected, and their potential benefits remain attractive to many crypto users and enthusiasts despite limited liquidity. However, they not only survived but have gone on to thrive, to many people's astonishment.
Privacy Coins Have Emerged As Some Of Crypto’s Best Performers
When privacy coins first came under attack, Monero ranked fairly low. However, over the years, XMR has been silently climbing the market cap ranks and is currently ranked 13th by market cap. This is a significant move even for an altcoin, and more importantly, a privacy coin.
Monero continues to defy the destiny many once envisioned. However, it is not alone; Zcash is one of the biggest gainers over the past year. Crypto Bubbles reports an annual move of 2685%, which is insane for a bear market.
The data speaks for itself. I have always said that if Bitcoin were perfect, it would be Monero. Certain key figures and institutions have hijacked BTC. However, it remains a good investment, but purists will be increasingly drawn to projects like Monero and Zcash.
Privacy remains important to many, not only criminals. Many people correlate privacy coins with crime. However, that is not entirely accurate. I believe privacy coins will remain valuable and, as a result, gain broader adoption and favor within the crypto community.
Final Thoughts
So, what are the best exchanges to buy XMR and ZEC? XMR is still available on KuCoin, while ZEC is still available on Binance, even though it was placed under Binance's Monitoring Tag. The key question now is how high these coins can rally in the upcoming bull market. All the best! See you next time!
Disclaimer
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