Disclosure: This article does not represent investment advice. The content and materials published on this page are for educational purposes only.
Privacy coins gain momentum: Zephyr Protocol market cap rises, Monero recovers quickly, Algotech gains pre-sale interest.
For the major sectors of the crypto world, the biggest use of cryptocurrencies is privacy. Unlike fiat currencies, cryptocurrencies can be used for purchases without being tracked.
However, not all crypto projects offer the same protection against tracking. If you need confidentiality, check out our list of the best privacy coins of 2024.
Zephyr protocol continues to develop
Inspired by the Djed protocol, the Zephyr protocol is a cryptocurrency supported by an overcollateralized decentralized stablecoin protocol that inherits the strong privacy features of all assets. It maintains its top position due to its triple asset concept that adds security and stability.
Over the past week, ZEPH's market capitalization has increased by 35.3%, as shown by CoinMarketCap. This shows that investors continue to have strong confidence in cryptocurrencies.
The Zephyr protocol features a cryptographically sound system design that allows users to send and receive money without revealing their transactions on the blockchain.
This project aims to take this proven approach even further by integrating Monero's privacy features. According to the statement, this hybrid strategy is a breakthrough move towards the creation of a stablecoin market that combines privacy and stability into a single decentralized platform.
Monero reversed in less than a day
Monero (XMR), a prominent player in the cryptocurrency industry, was founded in 2014 to protect anonymity and privacy during transactions.
Blockchain provides a trail of transactions, so payments can often be easily traced back to their origin. However, XMR was created to use encryption to mask both the sender and receiver.
Analysts agree that one of the main reasons for Monero’s price volatility (which saw a steep drop of around 22% in February) was the cryptocurrency’s delisting from Binance. There is. However, XMR bulls kept the price stable, allowing for a quick recovery within a day.
Algotech has received a lot of interest from investors in the pre-sale stage.
Algotech (ALGT) is a decentralized algorithmic trading platform that combines AI and blockchain technology. This innovative defi coin is expected to cause ripples in the industry.
The project received a successful private seed round, raising $1.1 million within two days. Algotech is also working on introducing cutting-edge trading features such as breakout detection, mean reversion, and high-volume hedging.
ALGT follows deflationary tokenomics, so there is a deflationary supply and when a shortage occurs, we expect the token price to rise significantly. The project is currently available at a pre-sale price of $0.04, but this price is expected to increase further once the project is listed on major exchanges.
learn more:
Access Algotec presale
Join the Algotech Community
Disclosure: This content is provided by a third party. crypto.news does not endorse any products mentioned on this page. Users should conduct their own investigation before taking any action related to the Company.
