Privacy coins including ZCash, Monero, and Dash have seen significant declines of 8.5%, 5.4%, and 3.9% respectively. The overall market pullback has left the privacy coin sector down by 15.4%, reflecting a shift in investor sentiment.
Experts believe the narrative of privacy coins as safe havens has collapsed, linking their performance closely to Bitcoin. As speculation prevails, these coins are now treated like high-beta altcoins.
Recovery prospects for privacy coins like ZCash and Dash depend on Bitcoin’s stabilization. Analysts maintain that if Bitcoin gains momentum, these coins could recover their recent losses much more aggressively.
Leave a Reply