Privacy coin differentiation is a pre-queue before the bull market

From a longer-term perspective, the divergence in privacy coin performance may not be a bad thing; instead, it could be a prelude to the next phase of the market. Historically, before every major market rally, there is always an internal "pre-queue" within the sector.

Currently strong privacy coins often have a clear positioning: either as privacy payment infrastructure or as value transfer tools for specific scenarios. These projects are viewed by capital as having a "certainty premium," making them easier to sustain even amid short-term volatility.

The problem with weaker privacy coins is not just their price, but their narrative loss of focus. They cannot compromise on compliance nor have unique use cases, and can only passively wait for market sentiment to warm up. Such projects tend to underperform during sector divergence until they are completely marginalized.

It is worth noting that privacy issues are cyclical. When macro environments tighten, capital flows are restricted, and financial scrutiny increases, privacy needs tend to heat up again. Therefore, the current divergence is more like a filter of "who can survive to the next round" rather than an endgame.

For medium- to long-term investors, privacy coins are not suitable for indiscriminate betting; rather, they are a test of patience and judgment. The end of market divergence is often not disappearance but concentration. #隐私币行情分化