Zcash soars 1,486% in 3 months and reaches highest price since 2018

Zcash (ZEC) has experienced a massive rally, trading at $676.64, marking its highest valuation since January 2018 after a 1,486% surge over three months. This surge propelled ZEC to the 18th spot by market capitalization. Analyst Jake Kennis attributes this movement to converging factors, including renewed ideological demand for privacy, as privacy transitions from a feature to a perceived necessity in crypto markets. Technical improvements, such as the matured zero-knowledge proof system, the user-friendly Zashi wallet, and recent Solana integration, have enhanced usability. Furthermore, Zcash's tokenomics, mirroring Bitcoin's scarcity with a 21 million supply cap and an upcoming halving, position it as an "encrypted Bitcoin." The price action has attracted renewed attention from industry figures, and derivatives markets show extreme positioning, with a negative funding rate indicating forced buying from liquidated short positions, accelerating the rally. The growth in Zcash's shielded pool suggests organic demand for its encrypted transaction features.

(Source：CryptoSlate)