Why Is Everyone Suddenly Talking About Privacy Coin Zcash Again?

Zcash’s value rose to $165 on Monday as Mert Mumtaz, CEO of Solana infrastructure agency Helius Labs, continued cheerleading the token on X, amongst different notable crypto observers.

Mumtaz has emerged one in all Zcash’s most vocal backers, and he mentioned on Monday that he “love[s] shilling privateness stuff as a result of it truly finally ends up making a distinction within the privateness properties of those techniques.” He referred to as for the token to hit $1,000.

Alongside his value prediction, Mumtaz posted a chart displaying the quantity of Zcash being “shielded” by means of zero-knowledge proofs. He famous that the quantity of funds successfully being masked “goes up and to the best over time.”

Zcash modified palms round $162 on Monday, a 7.5% enhance over the previous day, based on crypto information supplier CoinGecko. The cryptocurrency’s value has surged practically 240% over the previous two weeks, however it stays far off all-time highs.



Zcash debuted in 2016, and its value peaked round $3,200 then. On Monday, Zcash was altering palms round its highest stage since April 2022.

When requested about his curiosity in Zcash, Mumtaz directed Decrypt to a submit on X, through which he says he likes Zcash as a result of it has “a stronger privateness and scale design” than options like Monero, contemporary expertise coming into its ecosystem, and a longstanding group.

“Don’t allocate what you are not prepared to lose, that is dangerous,” he mentioned within the submit. “Solely look into it in case you agree with the argument on its deserves.”

Mumtaz acknowledged to Decrypt that different individuals’s social media exercise “additionally probably helped begin an curiosity flywheel.”

A crypto streamer who goes by Gainzy on X shared a hyperlink to a livestream on Monday alongside a picture of Zcash’s emblem. Chris Burniske, a associate at enterprise capital agency Placeholder, in the meantime shared a hyperlink to the corporate’s thesis on Zcash on X, which additionally mentions Bitcoin. 

“Whereas Zcash was partially impressed by Bitcoin, the group has by no means been content material being ‘Bitcoin however with privateness,’” it states. “As a substitute, they’ve acknowledged different core deficiencies in Bitcoin’s design, and labored to create a extra sustainable system.”

A notable enterprise capitalist referred to as Naval Ravikant additionally highlighted Zcash on X final week. The submit has been considered 2.9 million occasions. He referred to as Zcash “insurance coverage in opposition to Bitcoin,” suggesting that it has useful properties in comparison with the asset usually portrayed as digital gold.

Zcash is used for personal transactions, however customers also can ship clear ones. Bitcoin transactions are recorded on a public ledger that anybody can see, so they’re comparatively pseudonymous as a result of pockets addresses aren’t tied to precise identities.  

Final week, crypto information supplier Messari mentioned that Zcash was main “weekly mindshare with a 1,000% enhance” on X. That implies that curiosity had risen notably within the token on social media, and extra so than different cryptocurrencies like Litecoin and Curve.

Zcash’s latest rally follows information from crypto asset supervisor Grayscale, which at the start of this month, mentioned on X that it was creating a non-public placement for Zcash, permitting eligible buyers to realize publicity to the token.

Relating to renewed curiosity in Zcash, Gainzy doubted that it had something to do with its technical deserves whereas streaming on Monday.

“Retail does not care about zero-knowledge proofs. They do not care about retail about shielded transactions,” he mentioned. “They care about inexperienced candles, bro. They care about greenback indicators going up, and that is lastly taking place.”