Zcash Surges Past 2,000% Rally Amid Institutional Demand

Zcash has experienced a remarkable rally in the past year, gaining more than 2,000% while major altcoins like XRP, Solana, and Cardano have struggled. The other three tokens face different challenges despite having larger ecosystems and stronger name recognition.

The price of Zcash gained over 2,400% over the past year, while XRP fell 52.57%, Solana dropped 49.31%, and Cardano declined by 73.54%. All three trade below their previous highs, whereas Zcash holds its highest price since 2016.

Zcash's market capitalization has grown to $21.75 billion, making it the largest privacy coin and the 10th-largest cryptocurrency overall. The surge in ZEC's price began after Grayscale converted its Zcash Trust into a spot ETF listed on NYSE Arca, causing ZEC to climb to $1,249.

Developers deployed the Ironwood upgrade following a vulnerability that surfaced in June and led to a sharp price drop. Additionally, roughly 176,000 ZEC moved into the new shielded pool on its first day.