The privacy-focused cryptocurrency Monero reached its highest value since May 2022, surging to over $211.07. It has since pulled back slightly to $205.05, still up 17.8% for the day and 30.6% for the week. The wider privacy coin sector has also seen gains, with a 12% increase in the past 24 hours. Other privacy coins experiencing significant gains include Haven, Verge, Zcash, and Decred. Privacy coins use various cryptographic techniques to protect transaction details, but they have faced scrutiny from governments and law enforcement for their potential use by criminals. While efforts to crack Monero's privacy have been unsuccessful so far, it has been delisted from several exchanges due to regulatory concerns. The recent court ruling in favor of crypto privacy advocates regarding the Treasury's sanctioning of Tornado Cash has also contributed to the rise in privacy coins' prices.



Other News from Today