The anonymity set of a Monero recipient is all users. The anonymity set for the sender grows exponentially with every transaction.

Mints by their nature fracture the anonymity set of all ecash users since ecash is isolated to specific mints. Your anonymity set within an ecash mint grows smaller and smaller the larger a transaction you make because larger denominations are rarer and amounts aren't hidden from the mint.

https://docs.cashu.space/faq#general-safety-and-privacy-questions

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