Zcash tops $10B market cap, surpassing Hyperliquid to reclaim top-20 spot amid continued surge
Zcash surged over 750% since October, reaching a $10.9 billion market cap to enter the top 20 cryptocurrencies, surpassing Hyperliquid.Summary
Privacy-focused cryptocurrency Zcash (ZEC) re-entered the top 20 cryptocurrencies with a market capitalization of $10.9 billion, overtaking Hyperliquid. This surge defies the broader crypto slump, with ZEC jumping over 25% in 24 hours and rising approximately 750% since the start of October, reaching over $680—its highest price since early 2018.
The rally is attributed to renewed interest in privacy coins, debates over financial surveillance, improved mobile wallet integrations, and rising trading volumes. Analysts highlight the significant increase in Zcash's shielded supply, which uses zero-knowledge proofs (zk-SNARKs), as an indicator of growing trust and actual usage, as holders must actively opt in to shield their tokens.
Experts describe Zcash as an "encrypted Bitcoin" due to its fixed 21 million supply, Proof-of-Work consensus, and upcoming halving, combined with its privacy features. Furthermore, former BitMEX CEO Arthur Hayes' family office, Maelstrom, announced that ZEC is now their second-largest liquid holding after BTC, fueling speculation that ZEC could reach $1,000.
(Source：The Block)