Privacy coins like Monero, Dash, and Zcash are rallying as the market anticipates a shift in exchange policies and regulatory outlooks.
Monero’s price has been climbing for three consecutive days, reaching its highest point since April 2022. The privacy-focused cryptocurrency surged to $216.3, marking a 110% gain from its lowest level in 2024 and outperforming major assets like Bitcoin and Ethereum.
The rally followed a key US court decision concerning Tornado Cash, a privacy tool previously sanctioned by the Treasury Department.
A judge ruled that smart contracts operating autonomously cannot be classified as property, leading to the lifting of sanctions. This decision fuelled optimism for privacy coins, which have faced regulatory scrutiny over concerns of illicit use.
Due to this scrutiny, major exchanges such as Binance, Kraken, and Coinbase delisted Monero in recent years. However, the Tornado Cash ruling may prompt some platforms to reconsider their stance, potentially restoring Monero and similar tokens like Dash, Zcash, and Horizen to wider markets.
Technical indicators suggest continued bullish momentum, with Monero trading above the 50-week Exponential Moving Average. If the price breaks above its current ascending channel, further gains towards $290—a key resistance level from April 2022—could be expected.
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