Monero And Zcash Take Off With 15% Gains, Here’s What May Have Spurred The Rally

Privacy coins, Zcash (ZEC) and Monero (XMR), have been outperforming larger cryptocurrencies in the last 24 hours. The sudden surge on the price of these cryptocurrencies seems to be responding to recent developments around the Russia-Ukraine conflict, and the signed of an executive order from the U.S. Joe Biden administration. Related Reading | Monero (XMR) Price Slides As Canada Includes Crypto In Emergencies Act At the time of writing, Zcash (ZEC) records a 11.7% profit trading at $142, while Monero (XMR) records a 15.5% profit trading at $195. These cryptocurrencies have been following the general sentiment in the crypto market flipping towards a more positive stands as Bitcoin breaks above $41,000. Zcash And Monero React To A FED Coin As mentioned, the U.S. President Joe Biden has signed an executive order which has surprise for its positive approach to cryptocurrencies and digital assets. As the war between Russia and Ukraine ranges on, the International Community has quickly imposed financial sanctions of Putin, the Russian elite, and its banking system. As Coin Center’s Executive Director Jerry Brito said, mainstream media have been pushing a negative narrative around cryptocurrencies. Classifying them as “dangerous”, and with the potential to allow Russia to evade sanctions. Fortunately, some U.S. government officials have also look at the other side of the coin. The core message in this executive order, as Brito...