Privacy coins slide as Bitcoin downturn deepens losses

Privacy-focused cryptocurrencies fell sharply as a broader market pullback in bitcoin and ethereum dragged the sector lower.

The overall crypto market dropped more than 4% over the past day, while privacy coins declined nearly 10% against the US dollar.

Monero fell 16.8% in 24 hours to around $503 and is down more than 24% over the past week.

Zcash dropped 7.5% on the day and 10.8% over seven days, trading near $346 per token.

Dash slid 11.7% during Tuesday’s session but remained higher over the week despite the sell-off.

Beldex and Mimblewimblecoin recorded smaller daily losses, while Decred and Horizen posted double-digit declines.

Zano, Verge and Dusk also suffered steep drops, with Dusk losing more than 18% in a single day.

Pirate Chain fell over 20% and slipped out of the top ten privacy coins by market capitalisation.

Analysts said the sell-off reflects profit-taking after strong rallies and elevated valuations across the privacy coin segment.

At the time of reporting, Bitcoin price was $88,227.23.