Zcash Price Surge on Privacy Coin Demand: Driven by Shielded Value and Increased Social Dominance

Zcash’s price experienced a significant rally on Monday, surging to its highest point since January at $56.75. This surge is attributed to soaring demand for privacy tokens, particularly fueled by the increase in shielded value and growing social dominance of Zcash (ZEC). 3,062,081 ZEC are currently held in the network’s shielded pools, representing a notable climb from last month’s low of 2,650,000 ZEC. This marked rise in shielded value underscores the growing popularity of Zcash as a privacy-focused cryptocurrency.