Just one week ago, total trading volume in Incognito’s privacy-preserving decentralized exchange had more than doubled in a single month. The linked topic suggested that the rate of growth could be sustained, as daily trading volume was increasing.
Today, thanks to a consistent average of ~$2.5 million in daily trading volume, total volume in the pDEX has reached $101 million.
BTC, PRV reach all-time highs
Thanks to Elon Musk leading Tesla in buying $1.5 billion worth of Bitcoin and announcing the potential that Tesla “may accept Bitcoin” as payment in the future, the price of BTC hit an all-time high of more than $48,000.
Privacy (PRV), the cryptocurrency that fuels the Incognito network, also hit an all-time high of $2.86 around the same time. This is correlated with the increase in pDEX trading volume, and interest in cryptocurrency overall. As crypto flourishes, privacy does as well.
Privacy in demand
The high-intensity of the crypto space, flooded with institutional and celebrity interest and watched hawkishly by regulators, has lead to increased risk in crypto trading.
The more public the industry becomes, the more attention it draws not just from supporters, but from opponents and criminals as well. As the risks increase, awareness of the need for privacy increases. The privacy niche therefore is gaining traction quickly, and Incognito is growing faster than it ever has before.
To learn more about how to protect your privacy, explore the available privacy tools.