In brief
- Zcash has drawn renewed speculative attention ahead of its November halving, with traders positioning around the privacy coin narrative.
- Endorsements from prominent investors and revived privacy debates have fueled market activity despite limited on-chain growth, Decrypt was told.
- The rally’s sustainability hinges on post-halving sentiment and whether user adoption can extend beyond short-term speculation, one expert said.
Zcash has blasted past its 2021 peak following a 30-day triple-digit rally, driven by the convergence of speculative hype and a renewed focus on privacy.
Zcash has climbed from a low of $54 to around $372 in a month, positioning it as one of the market’s top performers.
That’s 11.5% higher than its May 8, 2021, closing price of $319. The asset is still down 88% from its all-time high of $3,191.93, set nearly nine years ago, according to CoinGecko data.
The market’s underlying volatility and bullish sentiment were reflected in predictions market Myriad, owned by Decrypt’s parent company DASTAN, where the
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Author: Akash Girimath
