$ZEC More Profitable: ZCash Market Cap Surges to US$10.2 Billion, Surpasses Chainlink
ZCash’s (ZEC) market capitalization has rapidly soared to US$10.23 billion (around Rp170 trillion). This surge pushed ZCash’s price to US$635, marking an 18.31% increase in the last 24 hours, according to CoinMarketCap, Friday (Nov 7) evening.
Moreover, this rise placed ZCash at 12th position among the largest cryptocurrencies by market capitalization, successfully surpassing Chainlink (LINK), which stands at US$10 billion. However, ZCash has not yet reached a new all-time high — the last one was recorded in October 2016.
Technically, ZCash’s increase occurred after the privacy token maintained 20% to 25% of ZEC’s supply in shielded transactions this month. Additionally, tighter regulations on privacy tokens, such as those affecting the Zashi wallet and the EU’s MiCA framework, which targets privacy coins by 2027, have been contributing factors.
Privacy tokens tend to perform better in risk-off markets, as investors seek hedges against potential regulatory surveillance on transparent chains. ZCash’s dual-address design allows for compliance-friendly transparency while offering optional anonymity, making it more exchange-friendly than Monero (XMR).
$XMR
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