What is Zcash (ZEC), and Why Has It Rallied So Much? Here’s Everything You Need to Know

The reasons for this increase in the value of the privacy-focused altcoin Zcash (ZEC), which is on the agenda again with its rise today, are being ￰0￱ price of ZEC has surged 33% in the last 24 hours and 433% in the last ￰1￱ figures are unusual for an altcoin with a billion-dollar market ￰2￱ on Binance, Coinbase, and many other centralized cryptocurrency exchanges, the altcoin's history dates back to the early days of the cryptocurrency ￰3￱ in 2016, ZEC is based on Bitcoin's codebase and, due to its limited supply at the time, reached an all-time high price of around $3,000. After Ethereum switched to the Proof of Stake consensus mechanism, Zcash became one of the most important representatives among the altcoins with the Proof of Work consensus mechanism, along with ￰4￱ News: What's Happening With This Altcoin: Huge Surge, Arthur Hayes Makes $10,000 Claim Interestingly, the cryptocurrency, which had remained below $100 for years, hit an all-time low of $15 in July ￰5￱ much so that Binance, the world's largest cryptocurrency exchange, initiated a delisting vote for ZEC last April, and the altcoin was saved from being delisted by Binance by being one of the winners of this ￰6￱ showing the change in the ZEC price in recent ￰7￱ and other cryptocurrency exchanges are under pressure from delisting, particularly in Europe, due to the difficulty of tracing ZEC and other privacy tokens.

However, Monero (XMR), a similar privacy token, hasn't experienced the same surge as ZEC ￰8￱ has also been delisted from many major cryptocurrency exchanges. So, what's causing Zcash's recent surge? This can be attributed to multiple factors. There's been a renewed interest in privacy infrastructure in the cryptocurrency market recently.

Furthermore, Electric Coin Company, the company behind ZEC, has recently implemented numerous technical ￰9￱ Digital analysts also noted that ZEC, due to its use of Bitcoin's codebase, is starting to be seen by some users as a BTC ￰10￱ allows users to “hedge” transactions with zero-knowledge proofs, and the network’s ability to support anonymous activity has attracted interest from some who fear Bitcoin is becoming centralized with Wall Street adoption or are wary of on-chain surveillance. *This is not investment ￰11￱ Reading: What is Zcash (ZEC), and Why Has It Rallied So Much? Here’s Everything You Need to Know