Zcash (ZEC) surged over 60% recently, achieving a three-year high, driven by cross-chain swaps enabled on THORSwap, increased institutional interest, and notable endorsements.
This price surge enhances Zcashโs market positioning amid ongoing regulatory concerns, signaling renewed investor confidence and expanding its utility in decentralized finance.
Zcash (ZEC) has surged over 60%, marking a three-year high due to various factors. Key contributors include the addition of cross-chain swaps on THORSwap, which has improved ZECโs accessibility and utility across major cryptocurrencies.
The involvement of major entities has been instrumental. Zcash Company, led by Zooko Wilcox-OโHearn, has not issued recent statements on this rally. Actions by THORSwap have enabled ZEC trading, enhancing its market utility and appeal.
ZEC Trading Volume Reaches $215.7 Million Daily
Financial impacts are substantial, with daily trading volumes reaching $215.7 million. The market cap exceeded $1.12 billion, highlighting the significant interest and activity in ZEC. Institutional speculation has surged, with net inflows of $6.4 million.
Potential outcomes vary across dimensions. Regulatory pressures continue, evidenced by exchange actions in regions like Dubai. Increased connections via THORSwap could boost liquidity and trading volumes in DeFi sectors, affecting correlated cryptocurrencies like BTC and ETH.
Privacy Coins Benefit from Cross-Chain Innovations
Privacy coins like Zcash previously experienced surges alongside regulatory and technological shifts. Monero witnessed similar rallies during CEX delistings. These trends suggest that innovations like cross-chain swaps might fuel future growth for ZEC.
According to experts from Kanalcoin, the recent addition of cross-chain swaps could position Zcash as a more competitive player among privacy coins. Such developments could attract further institutional interest, linking ZEC closely with broader market dynamics.
Naval Ravikant, Entrepreneur/Investor, X/Twitter, โZcash is insurance against Bitcoin,โ referencing ZEC as a sovereign alternative if Bitcoin itself is insurance against fiat: source.
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