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 Liquid has the same confidential transactions as Monero. Asset type and amount are hidden. 
 How? 
 And like 2 people using it https://liquid.network/pt/ 
 It's even worse than you may think. 
Every time you only see 1 transaction in a block it's really 0 users because that is just the coinbase, not an actual user transacting. 
 Yes, but aside from it being custodial, Liquid privacy is incomplete. 

It doesn't have stealth addresses to hide receiver or ring signatures to hide sender like Monero. So it is still easily traceable.

It also doesn't have default network protection like Dandelion++