CoinJoin quantity explodes as buyers seemingly go for privateness

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Fast Take

• A CoinJoin is “primarily a mixture of many separate particular person transactions right into a single bigger one, such that it’s not doable to hyperlink the transaction inputs (the origin of the cash) to the outputs (the vacation spot addresses of the cash) with the on-chain knowledge.”
• CoinJoins have been used on the Bitcoin base layer for years to enhance the privateness of transactions.
• Based on Glassnode, CoinJoin volumes have exploded since June 2022.
• Over a 7-day transferring common, the output rely as we speak is roughly 18,500 BTC. Versus June 2022, of roughly 3,500 BTC.
• The output quantity is 3,900 BTC over a 7-day transferring common, in comparison with 226 BTC in June 2022.
• A number of completely different companies and wallets carry out CoinJoin transactions, comparable to Wasabi and Samourai, and so they have lowered charges. As well as, Wasabi 2 went dwell.
• Wasabi Wallet 2.0 went dwell in June 2022 to supply extra privateness for much less.
• With privacy being additional eroded, many buyers might search for new methods to offset that.

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