The last 12 months have been tough on digital currency investors as the crypto winter has caused a large sum of value to leave the once-bustling economy. The privacy coin economy, for instance, shed more than 55% against the U.S. dollar as it dropped from $11.7 billion in Jan. 2022 to the current $5.22 billion.

Privacy Economy Loses 55% Against the Greenback, European Union Looks to Ban Anonymizing Cryptos

Privacy coins are not talked about like they used to be. These days, the hype and discussions surrounding decentralized finance (defi) and non-fungible tokens (NFTs) have eclipsed privacy coin conversations.

Furthermore, during the last 12 months, the privacy coin economy has dropped from $11.7 billion to today’s $5.22 billion. Last January, the top two privacy tokens included monero (XMR) and zcash (ZEC).

At the time, monero was the largest privacy coin by market cap and still is today. In Jan. 2022, XMR’s price was around $202.97 per unit and it had a market valuation of around $3.66 billion on Jan. 19, 2022.

Today, XMR is exchanging hands for around $142.35 per coin and it has an overall market capitalization of around $2.58 billion. Zcash holds the second-largest privacy coin market valuation this year and in January it was around $1.53 billion.

At the end of Dec. 2022, ZEC’s market cap is down to $517 million. Jan. 2022’s top five privacy coins by market cap included monero (XMR), zcash (ZEC), secret (SCRT), decred (DCR), and horizen (ZEN).

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