Zcash knocking at door of top 10 cryptos as market cap smashes $10.6B
Zcash tops privacy coins with a $10.6 billion market cap, outperforming Monero amid renewed investor demand for onchain anonymity.
While the rest of the crypto space has entered a slump, traders are banking on privacy tokens with Zcash leading the charge.
CoinMarketCap data shows that Zcash (ZEC) climbed to a high of $655 earlier today, reaching a market capitalization of approximately $10.6 billion. At the time of writing, the rally had cooled off and retraced to $632, giving it a $10.3 billion valuation and positioning it as the 12th-largest crypto asset by market cap.
ZEC is up by nearly 23% in the last 24 hours and has increased in value by more than 63% in the last week, according to CoinMarketCap.