Now, with the latest bullish move in the crypto markets, privacy coins are leading the way as investors look to find altcoins with the highest likelihood of recovering. Currently, the AltDex Privacy Coin Index (ALTPRV) is up over 7% with names like Zcoin (XZC) and Monero (XMR) posting large gains.
For comparison, the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens, is up 5% while the AltDex Exchange Token Index (ALTEXC), a benchmark index for the industry’s leading exchange tokens, is up 5.8%.
This isn’t the first time in recent weeks that the ALTPRV index has outpaced other digital asset categories. For example, when the previously described Satis Group report dropped, the ALTPRV jumped 9.4% in 24 hours, leading all indices.
Just last week, the ALTPRV jumped 10% in a matter of hours while the ALT100 was up only 0.18%, further exemplifying the significant swings privacy coins undergo before the rest of the market.
While it’s difficult to determine exactly which altcoins will recover from the ongoing bear market, privacy coins have quickly become an interesting digital asset category for investors to keep tabs on.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.