Zcash Market Cap Surpasses $20B as Privacy-Focused Cryptocurrency Hits New High

Market capitalization of Zcash has topped $20 billion following a significant price increase. The privacy-focused cryptocurrency reached its highest value since 2016, climbing to $1,249.28 before retreating to around $1,195 on Monday.

This rally marks the latest development in Zcash's trajectory, which began after Grayscale converted its existing Zcash Trust into an exchange-traded fund (ETF). The product, trading under the ticker ZCSH, started trading on NYSE ARCA on August 25.

Grayscale's head of research, Zach Pandl, recently noted that AI could increase demand for financial privacy by linking public blockchain transactions to users' identities. This could make Zcash a 'must have' feature for those prioritizing privacy.