The market value of privacy field will drop by US$440 million in 2023

On November 19th, it was reported that the decreasing interest in privacy-focused cryptocurrencies led to a market drop of $440 million in 2023. Historical data shows that as of January 27th, 2023, the total market value of top privacy tokens was $6.44 billion, but now it hovers around $6 billion. This data indicates that the value of the entire privacy-focused cryptocurrency has decreased by 6.83% when measured in US dollars.

Further Google Trends data shows that even before Satoshi Nakamoto introduced Bitcoin, people were already interested in "privacy coins". In December 2017, the search term "privacy coins" scored 80 out of 100, indicating a high market interest in privacy coins. However, since then, people's interest has declined and in November 2023, it dropped significantly to 7 out of 100. Discussions about privacy coins on social platforms such as X platform and Reddit have also decreased compared to previous years.