Zcash Surges Past $1,388 as Privacy Coin Rally Continues

Zcash's price nearly reached $1,400 on September 15 after a 15% surge in just 24 hours. This significant increase lifted its market capitalization to $23.21 billion and widened the gap with Monero by more than $10 billion.

The price rise was part of a broader privacy coin rally that saw several coins post double-digit gains, including NEAR (16%) and DASH (10.4%). The aggregate market capitalization of privacy coins tracked by Coingecko jumped by over 7% to $52 billion in the same period.

This performance contrasts with the broader crypto market, which rose only 1.3% to $2.7 trillion due to headwinds from the US Senate's failure to pass the CLARITY Act and the Federal Reserve's interest rate hike.