Dash price rises sharply as privacy coin sector gains momentum

The privacy cryptocurrency Dash jumped nearly 48% in a single day this week, reaching around $57 per coin. Traders moved money into Dash after problems at the Electric Coin Company, which develops Zcash. The company's team resigned because of disagreements about how to run the organisation. Zcash fell 24% over seven days as investors lost confidence. Monero, another privacy coin, also gained strongly, rising more than 50% over the past week. Dash got extra support from a new EU tax reporting rule that started on 1 January, and from a deal with Alchemy Pay that lets people use Dash for payments in 173 countries. Smaller privacy coins, including Pirate Chain and Horizen, also rose during the same period.