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Zcash Slows Down, While Monero Pulls Ahead
The privacy-focused cryptocurrency Zcash (ZEC) dropped sharply from a peak slightly above $741 on November 15 to a low of $411 on Tuesday, December 16. Meanwhile, its competitor Monero (XMR) continues to rise, gaining more than 15% over the past seven days.
Since reaching the $741 level on Bitfinex 31 days ago, ZEC’s price has fallen by 44.54%. The privacy-enhanced cryptocurrency declined by 3.1% this week and by approximately 1.4% over the past day. Despite the correction, the cryptocurrency is still up 626% compared to its price on December 16, 2024.
According to data from coingecko.com, the total market capitalization of privacy-focused cryptocurrencies stands at $17.35 billion. ZEC ranks second by market capitalization, with its current valuation of $6.76 billion accounting for 38.97% of the sector’s total value. Monero (XMR) holds first place by market capitalization, having regained the lead.
Zcash price change over 24 hours. CoinGecko data
The dynamics of XMR are the opposite: yesterday the cryptocurrency rose by 3.2%, and over the past week it gained 15.4%. In November, the price reached $437 per coin, with the current price at $426. Meanwhile, a 12-month comparison shows XMR has increased by 102%.
Another privacy-focused cryptocurrency that drew attention this week is beldex (BDX), which posted gains of approximately 5.9% over seven days.
Monero price change over 24 hours. CoinGecko data
Other high-market-cap privacy-focused cryptocurrencies recorded double-digit losses. DASH fell 14.4% this week, DCR declined 18.8%, and MWC posted an even steeper drop of 20.5%. Zano (ZANO) lost 10.5%, Horizen (ZEN) fell 18.8%, and Verge (XVG) dropped 15.4%.
See also: "Bitcoin Today: Modest Rise to $88.5K Amid ETF Outflows"
