Zcash hits 8-year high, flips Monero to become top privacy coin at $6.2B
Zcash defied the crypto market downturn with a 45% rally this week, making it the most valuable privacy-focused cryptocurrency, following Hayes’ call for a $10,000 price target.
Some of the leading privacy coins are defying the gravity of the digital asset market, signaling growing investor demand for privacy-focused cryptocurrencies.
Zcash (ZEC) surged to an over eight-year high of $388 on Friday after rising 7.6% in the last 24 hours, according to data aggregator CoinMarketCap. With a $6.2 billion market capitalization at the time of writing, ZEC flipped Monero (XMR) to become the most valuable privacy-focused cryptocurrency.
ZEC’s 45% weekly rise bucked the broader crypto market downturn, which continued its consolidation after a much-awaited tariff deal between the US and China failed to materialize on Thursday.
