Altcoin rally led by privacy coins Zcash and Monero as Bitcoin surpasses $42,000
As seen on CoinMarketCap, oldtimer privacy coins Zcash and Monero seem to be leading the altcoin market rally as Bitcoin rose to intraday highs of $42,438 on March 9. Monero (XMR) has added a whopping 20%, which allowed it to reenter the top 40 cryptocurrencies by market capitalization. Zcash (ZEC), another decentralized cryptocurrency focused on privacy and anonymity, is up nearly 15% at press time.
Top gainers on #OKX (24H)
🥇 $MIR @mirror_protocol
🥈 $XMR @monero
🥉 $LUNA @terra_money
📈 $OMI @ecomi_
📈 $SIS @symbiosis_fi— OKX (@okx) March 9, 2022
Launched in 2014, Monero aims to allow transactions to take place privately and with anonymity, while Zcash was founded in 2016.
Speaking on the price gains, on-chain analytics firm Santiment says: “Crypto prices are moving the right direction again over the past 24 hours. Bitcoin has risen modestly to above $39.2k once again, and Ethereum is back above $2,600. Notable gainers are ZEC (+16%), TON (+13%), AR (+10%) and XMR (+9%).”
📈 #Crypto prices are moving the right direction again over the past 24 hours. #Bitcoin has risen modestly to above $39.2k once again, and #Ethereum is back above $2,600. Notable gainers are $ZEC (+16%), $TON (+13%), $AR (+10%) and $XMR (+9%). https://t.co/kLo3joXOhK pic.twitter.com/w8yQs7rh8P
— Santiment (@santimentfeed) March 8, 2022
Terra (LUNA) is also up an impressive 19% in the last 24 hours with a total market cap of $35.4 billion. Terra (LUNA) is presently the largest network in terms of total staked value. Presently, more than $31.4 billion in LUNA have been staked directly on multiple platforms, according to cryptocurrency staking statistics service Staking Rewards, outpacing Solana and Cardano.
Bitcoin surpasses $42,000
According to data from CoinMarketCap, Bitcoin was trading at $42,019, up roughly 9%. Other cryptocurrencies, such as Ethereum, also rose…
