Quick Take
- A CoinJoin is “essentially a combination of many separate individual transactions into a single larger one, such that it is not possible to link the transaction inputs (the origin of the coins) to the outputs (the destination addresses of the coins) with the on-chain data.”
- CoinJoins have been used on the Bitcoin base layer for years to improve the privacy of transactions.
- According to Glassnode, CoinJoin volumes have exploded since June 2022.
- Over a 7-day moving average, the output count today is roughly 18,500 BTC. As opposed to June 2022, of roughly 3,500 BTC.
- The output volume is 3,900 BTC over a 7-day moving average, compared to 226 BTC in June 2022.
- Several different services and wallets perform CoinJoin transactions, such as Wasabi and Samourai, and they have reduced fees. In addition, Wasabi 2 went live.
- Wasabi Wallet 2.0 went live in June 2022 to offer more privacy for less.
- With privacy being further eroded, many investors may look for new ways to offset that.
The post CoinJoin volume explodes as investors seemingly opt for privacy appeared first on CryptoSlate.
