ZEC Soars 45% This Week, Driven by Privacy-Focused Demand

ZCash (ZEC) experienced a significant surge this week, reaching a high of nearly $360 after dropping to as low as $288. The growth is primarily attributed to an unprecedented influx of coins into shielded pools, indicating increased demand for privacy-enhancing transactions. 4.9 million ZEC are currently locked in these anonymous pools, with most entering Orchard, the network’s highest-privacy layer. Despite over 60% of traders holding short positions, recent market movements have triggered liquidations, suggesting heightened volatility and potential for further gains.