2025-12-17 15:21:06

Recently, I noticed that XMR, as the largest privacy coin, has surpassed a market cap of 8 billion. But upon closer inspection of this number, it still feels somewhat unbelievable. Honestly, this valuation, when viewed in the context of the entire market, is almost on par with the scale of second-tier public chains.

The question is—what exactly supports this market cap? From the perspective of the user base, is the demand for privacy coins really that large? From a fundamental standpoint, where is the profit model that can generate a value of 8 billion?

Most importantly, does this mean that the privacy sector will become the next big trend next year? Or is the market just hyping an illusory concept? The trends of leading privacy coins like ZEC and XMR might give us some answers. But for now, this valuation definitely warrants a question mark.

ZEC-6.26%

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Layer2Observer

· 5h ago

The user base supported by an 8 billion market cap... Let's see what the data says. Anonymous demand definitely exists, but this scale? A bit questionable. From the source code perspective, XMR's privacy mechanism is indeed solidly designed, but that's a completely different matter from market valuation logic. There's a misconception here. The profitability model is a question mark; pure coin projects have no cash flow. Speculation probably accounts for the majority. Can the privacy track become a hot trend? Theoretically possible, but it's too early to tell. Let's wait and see how ZEC develops. One thing to clarify—market cap catching up with second-tier public chains ≠ value catching up. Psychological accounting at play. From an engineering perspective, user scale and market cap are seriously mismatched. Further verification is needed. In simple terms, is it a bubble or real demand? You can tell by looking at trading depth and wallet activity. Data speaks. An interesting observation is that everyone is discussing privacy, but how many actually use it daily? The marketing tone is too strong. Considering all factors, the 8 billion figure definitely warrants a question mark. But the rebound is quite fast too. It feels like the market is still speculating on concepts. Let's wait for trading data, don't just look at market cap.

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MetadataExplorer

· 9h ago

8 billion valuation? Honestly, it feels a bit虚, do privacy coins really have such a large user demand... XMR was just hype, there’s no real application support. Question mark +1, this valuation is indeed a bit outrageous, let’s see how long it can hold up. Privacy track’s hot spot? I think it’s mostly capital rotation, not genuine demand. User numbers and profit models are really hard to say, it just feels like hype around concepts. I don’t understand where this valuation comes from, anyway I can’t make sense of XMR’s recent market trend. The 8 billion figure is indeed quite high for a second-tier public chain, what supports it?

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GateUser-4745f9ce

· 9h ago

Privacy coins with an 8 billion market cap… It sounds like just blowing bubbles; the actual user base can't support it at all. This wave of XMR's market movement is somewhat虚, and the fundamentals really don't add up. Is the privacy track the next hot spot? First, someone needs to actually use it. The market is starting to tell stories again, typical concept hype. If ZEC and XMR continue to rise, then it's purely a game of funds. To put it simply, there's no real application scenario support, it's all based on expectations.

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BlockchainBard

· 9h ago

8 billion market cap, is that all? It sounds impressive, but how many users are really needed to support it... Feels like just a hype bubble. Is there really such a strong demand for privacy coins? I haven't felt such a huge market need... I honestly didn't expect XMR to break 8 billion; this valuation is a bit excessive, isn't it? Both ZEC and XMR have been hyped up, but who can clearly say where this money is really coming from? This is just the market hyping itself up; bubbles without fundamental support will burst sooner or later. Privacy sector hype? That's a joke, probably cooling off completely next year. It all feels like a narrative to cut the leeks... This valuation just doesn't hold up.

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EthSandwichHero

· 9h ago

80 billion can catch up with second-tier public chains? I think, the imagination space for privacy coins has been exaggerated, and the real demand isn't that high. The recent surge in XMR is indeed outrageous; it feels more like a capital game. To put it simply, the privacy track is just two words—speculation, unless a true killer app appears. The market loves this set, as long as the concept sounds good, they rush in. Fundamentals? Nonexistent. I'm actually not too concerned about how ZEC will perform; anyway, I won't touch the privacy coin trap. In my opinion, this valuation is just inflated; let's wait and see how it drops next year. If privacy coins really become a trend, then the crypto world will truly turn into a casino.

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