XCurrency Price Increase Leads Privacy-Centric Altcoin Rally

September 13, 2014 10:52 UTC

The recent altcoin price uptrend has injected large amounts of capital into several privacy-centric coins competing with Darkcoin to become the currency of choice for those who wish to engage in both commerce and communication without publicly revealing their identities. At the forefront of this rally is the XCurrency price, but several smaller altcoins such as Shadowcoin have experienced significant price boons as well.


XCurrency Leads Privacy-Centric Coin Price Rally

XCurrency is one of many coins vying for the top spot among privacy-centric coins. While Darkcoin currently leads the pack with its masternode-based DarkSend+ protocol, XCurrency has introduced innovations of their own. The recently-released XChat Tor Stick employs the Tor network to offer users decentralized, encrypted messaging. Moreover, XCurrency recently announced they are developing “Web 3.0,” which will decentralize the internet by allowing XCurrency users to store website information within the XCurrency wallet.

For a while, the XCurrency price had been in decline. After peaking at more than 470,000 satoshis in June, the XCurrency price quickly declined. Despite a couple pumps, the XCurrency price has spent most of the past several months between 130,000 and 140,000 satoshis.

The XCurrency price began September at ~131,000 satoshis. Over the past week, however, the XCurrency price has increased more than 10% As the CoinGecko chart below demonstrates, the XCurrency price was just under 130,000 satoshis when it began to increase steadily. By September 10, the XCurrency price had nearly reached 150,000 satoshis. The price briefly declined on September 11, but soon resumed its uptrend. At present, the XCurrency price sits at 158,320 satoshis, ranking XCurrency 16th in total market cap.

This 7-day XCurrency price chart from CoinGecko shows the recent price uptrend. The current XCurrency price is 158,320 satoshis.

XCurrency is not the only privacy-centric coin experiencing a price rally. The impending release of the anonymous Nxtty cryptomessenger app has nearly doubled the value of Nxttycoin in the past week. The Stealthcoin price has also increased 39% over the past week, giving the coin an $818,000 market cap and a thirty-ninth place market cap ranking. Finally, Shadowcoin experienced a price increase this week, increasing from ~16,400 satoshis on September 5 to ~19,000 on September 12, a remarkable 44% rise. Shadowcoin’s market cap is now just above $730,000, placing it forty-third in total market cap, just a few spots behind Stealthcoin.

Darkcoin Price Falls Amid Shadowcoin and XCurrency Price Increases

Clearly, the Darkcoin price has not fared as well as the Stealthcoin, Shadowcoin, or XCurrency price this week. Via CoinGecko

Unfortunately, the XCurrency price-led anonymity rally did not extend to Darkcoin, the patriarch currency of the privacy-conscious. The top-10 altcoin saw its price fluctuate but ultimately decline 2% over the past week to ~579,000 satoshis ($2.77 USD), perhaps because investors are diversifying their holdings among Darkcoin competitors. Currently, Darkcoin ranks eighth on the market cap charts, holding a ~$2.5 million edge over ninth-place Namecoin.

Disclosure: The author is not personally invested in or affiliated with any of the coins listed above. Images from Shutterstock.

Last modified: December 17, 2017 04:45 UTC

More of: XCurrency

Josiah is the US Editor at CCN, where he focuses on financial markets. He has written over 2,000 articles since joining CCN in 2014. His work has also been featured on ZeroHedge, Yahoo Finance, and Investing.com. He lives in rural Virginia. Follow him on Twitter @y3llowb1ackbird or email him directly at josiah.wilmoth(at)ccn.com.

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