Zcash (ZEC) has experienced a staggering rise of over 400% in the last month, peaking at over $700 before settling at around $548 amid a surge in privacy-centric digital currencies.
BitMEX co-founder Arthur Hayes has disclosed that Zcash now ranks as the second-largest asset in his family office, Maelstrom, with Bitcoin being the top holding. “Due to the rapid ascent in price, ZEC is now the 2nd largest LIQUID holding in MaelstromFund portfolio behind BTC,” he shared in a post on X.
This announcement accompanies Zcash’s impressive rally, which saw its price increase from a low of $137 to more than $730 in just a month.
Other privacy-focused coins, such as Dash, Decred, and ZKsync, have also seen significant weekly increases exceeding 100%. In contrast, major cryptocurrencies like Bitcoin and Ether are experiencing market stability amid overall market volatility.
Zcash Drops 12% After Massive Rally
As of the latest updates, ZEC is valued at $548, reflecting an approximately 11.8% decline over the preceding 24 hours, with a market capitalization nearing $8.9 billion, according to CoinMarketCap. Trading activity remains vigorous, showing a 139% rise in 24-hour transaction volume, totaling $4.63 billion.
Zcash’s circulating supply holds at 16.28 million ZEC, with a cap limit of 21 million. The token’s fully diluted valuation stands at about $11.5 billion. Zcash’s unique structure supports both transparent and shielded transactions, similar to Bitcoin, which also has a fixed issuance of 21 million coins and is secured by a proof-of-work mechanism.
Zcash’s Comeback Driven by Privacy Concerns
Alex Bornstein, executive director of the Zcash Foundation, remarked that the recent surge in interest around Zcash has been entirely organic, driven by rising public worries about government surveillance and data privacy. During an appearance on Cointelegraph’s Chain Reaction show, Bornstein highlighted the meaning of this growing narrative surrounding digital privacy and financial independence. He confirmed that the Zcash Foundation had no influence on the newfound attention toward ZEC, stating, “We were surprised to see when these mentions started popping up… then to see that kind of wave just start to spread and then crest was extraordinary.”
