Zcash Surges to Eight-Year High, Becomes Top Privacy Coin
- Zcash (ZEC) reached $388, an increase of 7.6% in the last day.
- With a market cap of $6.2 billion, ZEC surpassed Monero (XMR) as the leading privacy cryptocurrency.
- ZEC experienced a weekly rise of 45%, diverging from the overall crypto market trend.
- The number of ZEC tokenholders increased by 63% to nearly 2,000 over the past week.
- Whale wallets sold a net total of $702,000 in ZEC tokens despite rising demand.
The surge in Zcash’s price indicates a growing interest in privacy-focused cryptocurrencies amidst broader market consolidation following failed tariff negotiations between the US and China. This renewed demand highlights the appeal of privacy coins that mask transaction details compared to more transparent options like Bitcoin.
Zcash’s remarkable performance, with a tenfold increase over two months and a recent peak at $388, underscores its status as a significant player in the cryptocurrency space.(Source)
