Shielded is the new normal
The world is waking up to privacy at an increasing rate. For those interested in crypto privacy, there are none quite as pertinent as Incognito, and they’ve got the numbers to prove it. Launched in just November 2019, the amount of crypto shielded since then has spiked each month. Both April and May individually saw numbers greater than all the rest of the months combined.
The recent PRV Holders presentation gives a “just the facts” look at the results that Incognito’s efforts have yielded over the past month. In May, users shielded (anonymized) $1.88 million worth of cryptocurrency, bringing the total to $5.36 million in just over 5 months. May alone accounts for more than 35% of the total shield volume.
That growth accompanies a $1.2 million trading volume, and an uptick of 504 new nodes, each an example of the largest growth the project has seen.
Privacy continues to occupy DeFi and political circles, and Incognito is poised for success. It remains the only way to anonymously use all your crypto, and its community is scaling in both size and activity, indicating demand for such a tool. Going forward, it’s within reason to expect shielded crypto be the default mode of operation for online transactions.
For the month of June, Incognito aims to “generate strong utility”, and will be integrating KyberSwap into their trading platform. As the uses for Incognito continue to expand, there seem to be no signs of slowing the recent growth any time soon.