FIRO price hits a snag after rising nearly 120%: here’s what to watch out for

After soaring by about 119.2% in the past two weeks, the FIRO price has hit a snag, pulling back to around $2.82 after hitting a high of $3.11.

Nevertheless, many are confident that the pullback could be short-lived, seeing that the rally is rooted in new on-chain utility and renewed interest in privacy coins.

Launch of Spark Assets drives real utility

Firo’s Spark Assets rollout sits at the centre of the recent price surge.

Launched in early November, Spark Assets lets developers mint privacy-first tokens — stablecoins, NFTs, and other instruments — that all share one anonymity pool.

The model makes a private stablecoin indistinguishable from an $FIRO transfer, and every asset creation or private transaction requires FIRO tokens.

That structural change converts Firo from a stand-alone privacy coin into a privacy infrastructure layer.

Early post-launch metrics show rising daily active addresses and higher transaction volumes.

The network’s market cap currently stands at around $50.69 million with a circulating supply of around 17.9 million, and the 24-hour trading band recently sat between $2.56 and $2.94 according to CoinMarketCap.

Privacy coins hype bolsters FIRO’s momentum

Beyond charts, the privacy coins sector narrative bolsters FIRO.

Firo was the first to launch zero-knowledge privacy on mainnet and the first to deploy Dandelion++.