Zcash (ZEC) Surges: Understanding the Price Jump

The Zcash (ZEC) price is experiencing a significant surge today, exceeding 20% to trade around $593.53 and becoming the market’s biggest gainer. This surge follows a week marked by mixed sentiment, with analysts predicting a potential drop towards $281 while adoption continued rising. The increased interest in ZEC’s privacy features is evident as over 4.9 million ZEC are now held in shielded addresses, representing about 30% of the supply. 50 million USD worth of ZEC was accumulated with Cypherpunk Technologies’ recent plan, and Grayscale expanded its Zcash trust.