Privacy Coins Rise Despite Zcash ETF Outflow and Security Concerns

The privacy coin market cap has shown resilience, rising 0.68% to $59.57 billion despite recent challenges. Leading the gains were NEAR, up 3.3%, and Monero, which climbed 1.5%. However, Zcash faced headwinds as Grayscale's ZEC spot ETF experienced its first weekly net outflow of $93.56 million, bringing assets under management down to $751 million.

Concerns also arose around the Orchard pool's security, though specific details were not provided. Despite these issues, the Zebra release candidate for the upcoming Zcash network upgrade has been launched, with key dates set for October. This upcoming upgrade could introduce new opportunities for the privacy-focused asset.