Privacy coins have surged, with Monero posting +18% gains over the last 24-hours to lead the top-100. Similarly, Zcash posted an impressive performance, coming second ahead of Secret.
The last 24-hours have seen $108 billion of inflows into crypto markets. The chart below shows a gradual uptick from 22:00 (GMT) Tuesday, followed by a sharp rise around 03:00 (GMT). A plateau of activity since then puts the total market valuation at $1.835 trillion presently.
Analysts have attributed this to a U.S Treasury leak ahead of President Biden’s executive order on digital assets, which is expected to be signed later on Wednesday. However, Treasury Secretary Janet Yellen prematurely posted a statement on the executive order, which has since been taken down.
Although crypto markets responded favorably to the leak, as evidenced by Monero’s rare pack leading position, the privacy-minded take a different view.
Monero spikes on Yellen leak
Yellen’s leak reveals the Biden Administration intends to take a “coordinated and…