{"id":414066,"date":"2022-03-10T00:05:00","date_gmt":"2022-03-09T21:05:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/monero-kyber-network-and-tornado-cash-break-out-as-traders-pile-into-privacy-protocols\/"},"modified":"2022-03-10T00:05:00","modified_gmt":"2022-03-09T21:05:00","slug":"monero-kyber-network-and-tornado-cash-break-out-as-traders-pile-into-privacy-protocols","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/monero-kyber-network-and-tornado-cash-break-out-as-traders-pile-into-privacy-protocols\/","title":{"rendered":"# Monero, Kyber Network and Tornado Cash break out as traders pile into privacy protocols"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a24967536c3a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a24967536c3a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/monero-kyber-network-and-tornado-cash-break-out-as-traders-pile-into-privacy-protocols\/#%E2%80%9D_Monero_Kyber_Network_and_Tornado_Cash_break_out_as_traders_pile_into_privacy_protocols_%E2%80%9C\" >&#8221; Monero, Kyber Network and Tornado Cash break out as traders pile into privacy protocols &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/monero-kyber-network-and-tornado-cash-break-out-as-traders-pile-into-privacy-protocols\/#Monero\" >Monero<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/monero-kyber-network-and-tornado-cash-break-out-as-traders-pile-into-privacy-protocols\/#Kyber_Network\" >Kyber Network<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/monero-kyber-network-and-tornado-cash-break-out-as-traders-pile-into-privacy-protocols\/#Tornado_Cash\" >Tornado Cash<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Monero_Kyber_Network_and_Tornado_Cash_break_out_as_traders_pile_into_privacy_protocols_%E2%80%9C\"><\/span>&#8221; Monero, Kyber Network and Tornado Cash break out as traders pile into privacy protocols &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-128018ef>Stocks and cryptocurrencies saw a notable bounce on March 9 even though war, rising inflation and historically high oil prices have investors uncertain about the future.<\/p>\n<p>Bitcoin (BTC) price surged to $42,600 in the early trading hours and several altcoins followed suit with double-digit gains.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/13ffae72-ba82-4315-a912-6d711d1823a7.png\"><figcaption style=\"text-align: center;\"><em>Top 7 coins with the highest 24-hour price change. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> shows that the biggest gainers over the past 24-hours were Monero (XMR), Kyber Network (KNC) and Tornado Cash (TORN), with Zcash (ZEC) earning an honorable mention.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Monero\"><\/span>Monero<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Monero is one of the longest-running privacy-focused protocols in the cryptocurrency market and the project is popular among investors looking to make private, anonymous transactions.<\/p>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> shows that the price of XMR rallied 36% from a low of $153 on March 7 to a daily high at $208.82 on March 9 as its 24-hour trading volume increased by 186%.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/480db26b-4c3b-43a5-9e49-37881247f247.png\"><figcaption style=\"text-align: center;\"><em>XMR\/USD 4-hour chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>The surging price of Monero comes as an increase in global regulatory concerns and sanctions may have pushed crypto users toward privacy-focused protocols to prevent their assets from being seized or frozen. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Kyber_Network\"><\/span>Kyber Network<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Kyber Network extended the hot streak it has been on since early 2022 after the multi-chain decentralized exchange (DEX) and aggregation platform saw its price surge 37% from a low of $2.33 on March 7 to a daily high at $3.19 on March 8 as its 24-hour trading volume spiked 222%.<\/p>\n<p>VORTECS\u2122 data from Cointelegraph Markets Pro began to detect a bullish outlook for KNC back on Jan. 22, prior to the recent price rise. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/eb63da33-7ede-4698-804d-b59c25a54963.png\"><figcaption style=\"text-align: center;\"><em>VORTECS\u2122 Score (green) vs. KNC price. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>As seen in the chart above, the VORTECS\u2122 Score for KNC hit a high of 77 on Jan. 22, around 48 hours before the price began to climb 148.58% over the next six weeks. <\/p>\n<p>The momentum for KNC follows the release of Kyber 3.0 in late January and the protocol&#8217;s March 6 launch on Arbitrum, which promises to offer faster transaction times with lower fees. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Kyber Network (KNC) bucks the market-wide downtrend with a 57% gain in January<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tornado_Cash\"><\/span>Tornado Cash<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Tornado cash is a decentralized, non-custodial protocol that provides private crypto transactions by breaking the on-chain link between source and destination addresses.<\/p>\n<p>VORTECS\u2122 data from Cointelegraph Markets Pro began to detect a bullish outlook for TORN on March 8, prior to the recent price rise. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/5c0588d4-f911-44dc-b08c-2b60a7c76b6f.png\"><figcaption style=\"text-align: center;\"><em>VORTECS\u2122 Score (green) vs. TORN price. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>As seen in the chart above, the VORTECS\u2122 Score for TORN began to pick up on March 7 and hit a high of 87 on March 8, around one hour before the price increased 32.7% over the next day.<\/p>\n<p>The climbing price of TORN follows the release of the protocol\u2019s new decentralized relayers network which helps maintain privacy during the withdrawal process on the platform. Those interested in becoming part of the relayers network are required to stake a minimum of 300 TORN. <\/p>\n<p>The overall cryptocurrency market cap now stands at $1.732 trillion and Bitcoin\u2019s dominance rate is 42.4%.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/monero-kyber-network-and-tornado-cash-break-out-as-traders-pile-into-privacy-protocols\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Monero, Kyber Network and Tornado Cash break out as traders pile into privacy protocols &#8220; Stocks and cryptocurrencies saw a notable bounce on March 9 even though war, rising inflation and historically high oil prices have investors uncertain about the future. Bitcoin (BTC) price surged to $42,600 in the early trading hours and several&#8230;<\/p>\n","protected":false},"author":1,"featured_media":414067,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvOTdiODlmNDMtNjQ3NS00NWViLTljZDctMmI1ZTE4ZDU1ZjYwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[15047,74867,88119,74863,74983,74877,74868,105688,74963,74355,73785,70934],"class_list":["post-414066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-privacy","tag-altcoin","tag-altcoin-watch","tag-cryptocurrencies","tag-decentralization","tag-decentralized-exchange","tag-defi","tag-markets-pro","tag-monero","tag-adoption","tag-markets","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/414066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=414066"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/414066\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/414067"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=414066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=414066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=414066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}