Zcash Teams Up with NEAR Protocol: A Potential Revival for Crypto's Old Guard?
Zcash joins the NEAR Protocol's Intents stack, potentially boosting demand for ZEC. What does this mean for its future?
Zcash is now integrated with the NEAR Protocol’s Intents stack. This collaboration aims to boost the demand for ZEC and potentially raise its price by Q4 2024.
Zcash was launched to enhance transaction privacy, providing users with the option to obscure their transactions. However, with increasing regulatory pressures on privacy coins, ZEC has faced challenges, losing liquidity and market relevance as exchanges began delisting it.
Zcash and NEAR Protocol’s Integration
The full incorporation of Zcash into NEAR Protocol’s Intents stack is seen as a move to reinvigorate ZEC’s position within the market. The NEAR Protocol is recognized as a leading project in the crypto AI space. The integration is expected to facilitate cross-chain swaps, enabling Zcash to leverage AI for instantaneous asset exchanges at no cost.
“Unstoppable private money meets unstoppable liquidity.”
Say gm to @zcash – now live on NEAR Intents. Swap native ETH, BTC, SOL, NEAR, and more for native $ZEC.
— NEAR Protocol (@NEARProtocol) February 8, 2025
Implications for Users
Users can now exchange ZEC for other major altcoins like Bitcoin, Solana, and XRP without transaction fees. NEAR Protocol positions this feature as a decentralized and KYC-free alternative while offering a user-friendly experience akin to centralized exchanges like Coinbase.
ZEC’s price currently faces downward pressure, having dropped over 50% since the highs of Q4 2024, with technical support around $30. There are concerns that a further decline may lead to sell-offs, potentially dropping the coin to $16 or lower.
Disclaimer: Crypto is a high-risk asset class. This article is for informational purposes and does not constitute investment advice.
