ZEC Surge Drives Interest in NEAR as 'Tool Seller'

ZEC's recent surge has sparked interest in NEAR as the 'tool seller' for the privacy coin. ZEC surged to $1,200 on September 6, posting a 370% gain over three months, and Grayscale's ZEC spot ETF (ZCSH) attracted over $460 million in assets within two weeks of its launch.

Instead of betting on ZEC's next move at the $1,000 level, some investors are buying into NEAR Intents, the cross-chain settlement layer. This narrative suggests that NEAR Intents is not just an on-ramp for ZEC but also its off-ramp, with every cross-chain swap initiated from Zashi going through the NEAR Intents settlement layer.

According to data from the official NEAR Intents dashboard, as of early September, the cumulative trading volume reached approximately $27.6 billion across more than 26 blockchains, generating around $45 million in fees, with a 30-day trading volume of approximately $3 billion. However, it's worth noting that the transmission efficiency is actually much lower than what the community suggests and is highly dependent on the sustained performance of the ZEC asset.