The crypto market has been experiencing success since the beginning of April. Positive signs were initially sighted on February. It is the exact opposite of 2018 where prices were plummeting all through with no signs of recovery. 2019 is different.
We might be over-focused on the top crypto prices so much that we forget the private oriented coins. Today, we focus on the private side of crypto by examining some of the top private coins as per the AltDex coin index.
Monero, Bytecoin, Zcash, Komodo, and Verge (not necessarily in that order) are among the top private cryptos by market cap. As you are probably aware, private crypto, by design enables users to execute transactions anonymously. Here is a summary of their movements in April;
Monero Price Movements
Monero was among the cryptos that enjoyed the price uptrends that began April 1st. The coin recorded new prices at $72 on 3rd April, up from $55 it recorded two days prior. Although the price corrected to $62 on April 4th, it has since bounced back to about $68. Montero’s price has generally increased by 22% this month alone.
With a market cap of over a billion dollars, Monero is the highest ranked private crypto and falls at #12 of all cryptos. The coin has moved one spot from #13 on coinmarketcap.com list.
Zcash Performance In April
Although it may be experiencing price corrections in the past couple of hours, Zcash has recorded an 18.7% overall increase since the beginning of April. Statistics show an improvement from $57.9 price recorded on fool’s day to a $72.6 high eight days later. Generally, the prices remain within a 10 unit range from $65 to $75 from April 4th.
Judging by the market cap and current price, Zcash stands at #24, two positions below its ranking a few months ago. It’s market cap of $437 million means it’s 2nd on the privacy coin index.
It’s important to note that in February 2019 Zcash underwent a rebranding exercise that saw its name change to Zerocoin Electric Coin Company to give the brand more clarity.
Bytecoin Steady Price Increase
The 3rd ranked privacy coin is 45th on the overall crypto index as per coinmarket.com.
Bytecoin price rose from $0.000729 the beginning of April to 0.001003 on April 4th. The 37% upsurge was followed by another increase to 0.001033 registered on April 8th. A few corrections and flat-lining may have coupled the run, but overall the price has increased by 24.5%, beating both Monero and Zcash.
Verge’s Price Volatility
“Verge has endured bad press and fought off 51% of attacks,” a Reddit user has claimed.
He summarized the challenges the private coin has faced over the year including a code malfunction and a possible fork to proof of stake. But that didn’t stop it from outshining follow private coins in terms of the highest increase this month.
April 8th, Verge was at its price peak of $0.01128 from its $0.007552 openings on fool’s day 2019. A 49% increase was at the time the highest recorded among privacy coins. It now stands at $0.0082 after a reversal and flat lining. The coin is currently on an uptrend of 9.4%.
Komodo Gains Then Drops
With a market cap of $121 million, Komodo is 5th placed on the privacy coin index.
Komodo price increased from $1.12 on the first day of April to $1.28, two days later. A rally from April 1st to 8th saw holders gain 14%. It was the least performing crypto at the moment. It became apparent when the price dropped to $0.99 on April 12th.
According to coinmarket.com, the price is currently at $1 and is the only coin with a negative change since April 1st.