In this 2020, privacy coins are establishing themselves as one of the most promising crypto assets.
But first things first.
2020 has seen the industry start with the right pace, with increases that until mid-February recorded performances that went even further than 50%, for Bitcoin (BTC), but also for Ethereum (ETH) that did even better, with a rise that from January 1st to the highs of mid-February recorded double the performance of BTC with an increase of 120%.
Ripple (XRP) also did not disappoint, with an increase that gave hope for a recovery of the lost ground in 2019. In fact, Ripple in 2019 was among the worst, unlike others that did better. Ripple performed 86% better than Bitcoin in just over 40 days.
The mid-March declines, which then coincided with the lows of this year, cancelled out all the increases. Bitcoin even revised the levels of April of last year. Ethereum performed worse and returned to December 2018 levels. Among the first three, the worst was Ripple which went back to summer 2017 levels, going back about three years.
The first three months of 2020 saw Bitcoin close the second consecutive quarter with the red mark, an event that did not happen since between the end of 2014 and the first quarter of 2015.
Despite the difficulty, there is a recovery in these early days of April that is showing a positive and relevant performance in 2020.
Privacy coins in 2020
In this first start of the second quarter of 2020, the one that is becoming apparent among the big ones is one of the privacy coins, Dash (DASH).
Dash, which currently occupies the 20th position of the most capitalized with just over $700 million of capitalization, sees one of the best rises among the most famous altcoins. A rise that since the beginning of the year, despite the slight setback that is recording this Easter weekend, is over 80%.
A performance that as a result is dragging the other two privacy coins par excellence, in particular Monero (XMR), which with a capitalization of over $960 million, higher than Dash, occupies the 14th position in the standings and since the beginning of the year has gained over 20%.
Among the privacy coins, ZCash (ZEC), the privacy coin that occupies the lowest position in the ranking, the 26th, with 350 million dollars, has stood between the two since the beginning of the year with an increase of more than 30% at the time of writing this article.
These are performances that bode well for this type of crypto that can boast of guaranteeing absolute anonymity in transactions.
In the second part of 2019, privacy coins, following the various bans imposed by regulators worldwide, in particular the US, but also by the new GDPR in terms of privacy and data protection by companies offering trading and brokerage services, have seen some exchanges delist the possibility of their use precisely so as not to incur sanctions and closure risk.
In spite of these difficulties, the tensions of this 2020 seem to bring back interest also in Dash, which several times during the last year has boasted to be one of the most used cryptocurrencies in Venezuela.
Has a new era for privacy coins commenced? This is not known at the moment, but these indications of these first three months of 2020 already seem to suggest that the next level of attention that will characterize the trend and interest from the cryptocurrency users will be precisely focused on privacy, something that was the incorrect narrative which in recent years had attracted the attention of Bitcoin, which instead has a public ledger, like Ethereum, where anonymity is guaranteed but not the total privacy.