Crypto Privacy Tokens See Price Lift on Pornhub Deal

The privacy-focused cryptocurrencies are reporting solid gains today, soon after Pornhub announced it will now accept payments in verge's XVG token.

Monero, the world's 11th largest cryptocurrency by market capitalization, clocked a four-week high of $232 earlier today and is changing hands at $227 - up 14 percent in the last 24 hours, according to CoinMarketcap.

Other privacy-focused cryptocurrencies like dash, zcash and lesser-known names like PIVX, Zcoin and NavCoin are are also seeing bids.

It appears that the verge-Pornhub partnership has boosted the appeal of the cryptocurrencies offering real anonymity, perhaps since investors are expecting porn sites and other businesses where privacy is appealing for customers to start adopting such cryptos in the near future.

Clearly, XMR is leading the rally in privacy-focused cryptocurrencies.

As far back as May 2017, Pornhub users had proposed monero as the preferred mode of payment.

Now, the porn site's decision to opt for XVG as its preferred cryptocurrency has left XMR investors exasperated.

Investors will surely take heart from the price rally seen today.

The price chart analysis indicates good times ahead for the cryptocurrency.

CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.