Zcash Knocking At Door Of Top 10 Cryptos As Market Cap Smashes $10.6b

CoinMarketCap data shows that Zcash (ZEC) climbed to a high of $655 earlier Friday, reaching a market capitalization of about $10.6 billion. At the time of writing, the rally had cooled 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 almost 23% in the last 24 hours and has increased in value by more than 63% in the last week, according to CoinMarketCap.

Zcash benefits from a dual-mode design, which offers transparent and shielded addresses.

Their posts and podcasts amplified the message that Zcash's zero-knowledge proof technology could represent a pure form of decentralized value transfer that is still viable in a tightened regulatory environment.

In Cointelegraph's Chain Reaction show, Zcash Foundation executive director Alex Bornstein said that neither the foundation nor the Electric Coin Company paid influencers to promote ZEC. He said the recent wave of advocacy was a spontaneous cultural shift rather than a coordinated campaign.

However, not everyone is excited about Zcash. Jan3 CEO and Bitcoin advocate Samson Mow warned Zcash investors to “figure out” their positions on Thursday. Comparing Zcash to Dogecoin, Mow advised Zcash investors to use their gains to buy BTC.

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Source: CoinTelegraph