NEAR Intents Becomes 'Toll Road' for ZEC as Price Surges
The price of ZEC surged to $1,200 in September, marking a 370% increase over three months. The Grayscale ZEC Spot ETF (ZCSH) absorbed over $460 million in assets within two weeks of its launch.
However, the hot trading discussions on Crypto Twitter have shifted from ZEC itself to NEAR Intents, which is becoming known as the 'toll road' beneath ZEC. This narrative suggests that instead of betting on ZEC's next leg up, investors should buy into NEAR Intents.
The connection between ZEC and NEAR Intents lies in the integration between the Zashi wallet and NEAR Intents. The Zashi wallet is a self-custody entry point for user experience in the ZEC ecosystem, and it allows users to directly convert assets like BTC, SOL, and USDC into shielded ZEC using NEAR Intents.
The data on NEAR Intents shows that cumulative trading volume reached approximately $27.6 billion across more than 26 blockchains as of early September, generating roughly $45 million in total fees. However, the actual 'protocol revenue' flowing into the protocol treasury and earmarked for repurchasing NEAR amounts to only about $5.51 million.