As Bitcoin shifts focus away from privacy, Monero (XMR), Dash (DASH), and Zcash (ZEC) are gaining traction. The three are also gaining popularity amidst the global push for central bank digital currencies (CBDCs). However, top analysts favor VC Spectra (SPCT) as a potential market entrant that could dethrone the three in convenience and anonymity.
Zcash (ZEC) gains traction
Built on the Bitcoin framework, the Zcash protocol allows anonymous transactions on public blockchains. Bitcoin and Zcash (ZEC) have many things in common; for example, both BTC and ZEC have a fixed supply of 21 million units. However, Bitcoin and Zcash have differing views on privacy.
On July 4, 2023, Ku Coin CEO Johnny Lyu stated that Bitcoin does not value privacy as much as it values exchange. As the crypto market is highly susceptible to speculation, his statement propelled privacy coins like Zcash and Monero to gain traction.
At present, Zcash is riding a bullish sentiment. Over the past month, Zcash (ZEC) has gone up by 27% to its current price of $32.15. Based on the trends it showed in previous years, analysts predict ZEC will drop to $29.75 or rise to $31.44 by the end of 2023.
Monero (XMR) adoption is on the rise
Unlike transparent blockchains, Monero Mordinals provide complete anonymity. Monero (XMR) also has real-world utility, as recent data shows a notable increase in adopting it as a form of payment. As of July 2023, Monero has been accepted by over 1400 merchants worldwide.
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The sentiment surrounding it is bullish. In mid-June, Monero (XMR) showcased a price surge of approximately 25% to hit $167.80, but it has since lost some steam, and the price is flatlining below the $170 level. This may be a brief correction before it continues its ascent. Currently trading at $166.11, analysts project that by the end of 2023, Monero’s price will increase to $278.914.
VC Spectra (SPCT) offers innovation and anonymity
VC Spectra (SPCT) is a community-based decentralized hedge fund with groundbreaking security and anonymity features. VC Spectra’s decentralized protocol allows seamless and anonymous trading.
By leveraging AI technology to identify market trends for maximum gains and minimal risk, VC Spectra gives its investors diversified portfolios with profitable blockchain and tech firms. Moreover, the platform’s visualization features allow investors to track their portfolios easily.
The VC Spectra token, SPCT, is a deflationary BRC-20 standard token with a burn mechanism that will ensure long-term value. SPCT token holders receive quarterly dividends and buybacks in addition to pre-ICOS discounts and voting privileges.
Stage 1 of the VC Spectra public presale is ongoing, and the token is selling for $0.008. Stage 2 will see a 37.5% price increase when the token price rises to $0.011. The VC Spectra (SPCT) token will trade at $0.08 on major platforms after launch, with a predicted 10x ROI for SPCT investors.
Dash (DASH) garners demand
Forked from the Bitcoin protocol, Dash is another privacy coin with great potential. Dash (DASH) continues to demonstrate resilience despite facing regulatory pressure from the US SEC, which classified Dash as security.
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In early June 2023, DASH broke the $41 support level and plunged to $28 in two weeks, losing 35% of its value. However, Dash (DASH) bounced back to $38.23 over the subsequent weeks, thus forming a bullish trend. At present, Dash is trading at $35.6, reflecting a 5.7% increase over the past month.
The current demand for Dash is fueled by government censorship concerns and a lack of privacy in Central Bank Digital Currencies. Market analysts express confidence in Dash’s (DASH) potential and predict it to reach $59 by the end of 2023.
