"Cue the flurry of interest around world-class privacy token Zcash ( CRYPTO:ZEC). This token has moved from under $50 per token to roughly $540 apiece at the time of writing, with a stock chart that can really only be described as parabolic. One would correctly assume that there are some strong underlying catalysts driving this move. Let's dive into what's moving ZEC tokens right now, and where Zcash could be headed from here."
"The investment thesis supporting Zcash (and Owens' endorsement of this blockchain) is that there's actually quite a number of similarities between Zcash and Bitcoin. These borrowed foundational elements, in combination with zero-knowledge proofs (a sort of security technology which makes transactions ultra-secure), have created a situation in which the mainstream media (and analysts) are now jumping on Zcash as a potential winner moving forward."
Cryptocurrencies are volatile assets that reward investors who enter early and hold through momentum-driven cycles. Zcash (ZEC) climbed from under $50 to roughly $540 per token, displaying a parabolic chart and a large-cap 10x move in just over a month. Analysts at Galaxy Digital highlighted Zcash as an "encrypted Bitcoin," citing foundational similarities with Bitcoin combined with zero-knowledge proofs that make transactions ultra-secure. Those technological features and borrowed Bitcoin elements attracted mainstream media and analyst attention, positioning Zcash as a potential substitute or winner among privacy coins if a privacy-coin boom occurs. The token's performance gap versus Bitcoin underscores this possibility.
Read at 24/7 Wall St.
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