Solana Meme Coin ZCAT Distributes Over $2.8 Million in ZEC Amid Zcash Surge

The Solana-based meme coin ZCAT has been distributing funds to its holders through a unique mechanism. A 3% transfer tax on every transaction is converted into Zcash (ZEC) and distributed to wallets with at least $20 in holdings.

To date, approximately 2,320 ZEC have been distributed, valued at around $2.8 million based on Monday morning Asian market prices, with over 470,000 distributions made.

The success of this model is tied to the recent surge in Zcash's price, which has risen more than 23-fold this year and briefly surpassed $1,200 late last Sunday.