Zcash Rallies Past $20 Billion Market Cap in Rapid Price Surge
Zcash has reached its highest price since 2016, pushing its market capitalization above $20 billion. According to CoinGecko data, ZEC briefly touched $1,249.28 before easing to around $1,195 on Monday.
The token's surge is rapid: it's up roughly 45% over the past week and about 138% across the last 30 days, according to CoinGecko's price charts.
While Zcash's latest rally is impressive, it still falls short of its all-time high of $3,191.93 on Oct. 28, 2016. Grayscale's conversion of its existing Zcash Trust into an exchange-traded fund (ETF) trading under the ticker ZCSH has supported renewed attention.
Grayscale research argues that privacy demand could rise as AI makes it easier to connect public blockchain activity to real-world identities. The firm's head of research, Zach Pandl, highlighted Zcash's privacy features as potentially becoming a 'must have' for users who prioritize confidentiality.