Fig. 1. CloakCoin price (USD) and 24h volume (USD) (source: coinmarketcap.com)
What?
The price of CloakCoin (CLOAK) is about US$9 / 0.00355 BTC per coin right now, which is relatively cheap compared with the $12.99 peak on June 26th, 2017.
Why does it matter?
CLOAK is a private, secure, untraceable and decentralised cryptocurrency. It was introduced in 2014 with the aim of enabling people to use a coin that would provide total privacy, "in a world that is more and more encroaching on the freedom of its population" (source: cloakcoin.com).
This cryptocurrency is in many ways similar to Monero (XMR) and Zcash (ZEC) because of its emphasis on privacy. However, CLOAK market cap is significantly smaller than that of XMR and ZEC.
| Cryptocurrency | Market Cap (USD) |
|---|---|
| Monero (XMR) | $665,125,060 |
| Zcash (ZEC) | $489,188,998 |
| CloakCoin (CLOAK) | $45,477,657 |
Therefore, any major volume increase in the future could inflate CLOAK price dramatically.
