The prices of large privacy coins such as Zcash (ZEC) and Monero (XMR) have risen recently, despite concerns from regulators. While the community may expect these coins to corrode FBI activity and outrageous activity, both coins will rise.
Privacy coins are unique and popular to ensure the anonymity of user transactions. Both Zcash and Monero use advanced encryption to ensure user privacy and transaction security.
Since the price of these coins will go up after a significant drop a few days before, you may be wondering if it is the right time to invest in such coins. With all the regulatory concerns about the criminal use of cryptography, investors have been worried that the value of ZEC and XMR would fall, but in recent days their prices have really strengthened.
Zcash (ZEC) Current market position
Currently, ZEC has a total market capitalization of $ 1,593,403,850. The price of ZEC today, June 10, 2021, is $ 139.38, an increase of 8.51% in 24 hours. According to the data, the total number of ZECs circulating in the market is 11959319 coins.
Zcash has a maximum supply of 21,000,000 coins. Moving coins are already more than half the cap. The intention is that when coins maximize their delivery limit, ZEC will become rare and very expensive. So you should consider investors who want to keep a coin and expect a price increase.
Tracing the history of the ZEC price movement, the coin has recorded the highest and lowest levels from May to June 2021. It sold for $ 319.56 on May 8th. But it later lost more than 50% on May 20 and rose to $ 146.65.
However, the coin picked up a few days later, but is now rising towards the best price in June.
While the smuggling market is popular because of its volatile characteristics, it is worth mentioning that FBI investigations into privacy coins seem to drive bulls rather than discourage them.
Experts also predict that Zcash could hit staggering $ 1358.8187 by 2023. While no one can be sure of any encryption price, there is hope that Zcash’s approach will raise its value high in the years to come.
Monero (XMR) is gaining momentum
The price of the Monero has taken a positive turn in the midst of concerns surrounding privacy coins. According to CoinMarketCap, the market value of Monero XMR today, June 10, 2021, is $ 4,786,681,321.
XMR’s current purchase price is $ 273, while trading volumes are $ 354,946,982. Based on CoinMarketCap analysis, Monero XRM has a market value of number 27.
The total number of XMR coins circulating in the market is 17,928,615 coins. The XMR does not have a feed cap. Tracing XRM’s price history, the coin recorded well high price May 10, 2021, priced at $ 483.71.
It maintained prices above $ 400 until May 13, 2021, when the price dropped to $ 396.70. But the next day, it rose above $ 400 and maintained it before falling to prices below $ 400.
While the price of the Monero XMR has not been stable from May to June, one thing is for sure, the coin will recover after it plunges. The price improved 10.04%, from $ 249.20 on June 8 to $ 253.43 on June 9.
The main goal of the program privacy coins like Monero is to ensure user privacy while navigating the encryption market. As people’s interest in privacy grows, there are all signs that the value of these privacy coins will increase.
While the Monero XMR has recently recorded some price fluctuations, the coin has intensified rather than lost.
In addition, the expert’s forecast for the coin is positive. Cryptographic analysts predict that privacy money will rise to $ 875.20 in 2025 and $ 926.49 by 2026.
While no one can predict the price of encryption for sure, it is worth mentioning that Monero’s approach will help increase its value in the future.
Are Zcash and Monero worth buying?
Security ombudsmen believe criminals hide their profits by using these coins for money laundering and other malicious acts. FBI and the IRS is currently expressing concern about privacy coins such as Monero, Zcash, as they have found their hacking very difficult.
For example, last year, in September 2020, The IRS offered $ 625,000 for anyone who can hack Monero.
But amidst the concern and attention of safety and regulatory agencies, the prices of Zcash and Monero are constantly rising. There is still speculation that regulators may help drive the uptrend.
However, before investing, it is recommended that you thoroughly research any encryption before investing in it.
Currently, some of Monero’s shopping locations have Binance and other small outlets. But before using the trading platforms, you may need to convert your fiat currency to Bitcoin before using it to buy Monero XMR.
Also, if you are interested in buying Zcash, many encryption exchanges such as eToro, CoinTiger, Binance, ZG.com, Huobi Global and OKEx are available to you.
Do you want to buy or change the encryption now? Invest in eToro!