Zcash surges to new all time high near $500 as privacy coin momentum accelerates

Zcash has reached a new all-time high near $500, climbing over 20% in the past 24 hours and more than 700% since late September. This dramatic surge positions Zcash as one of the top-performing assets in the cryptocurrency space.

The token’s market capitalization has now surpassed $7.7 billion, placing Zcash among the top 25 crypto assets by size. Notably, Zcash has overtaken Monero in market capitalization, signaling a major leadership shift in the privacy coin sector.

Zcash offers a standout feature by allowing users to shield their transaction history through a privacy pool. This means Zcash provides selective privacy rather than mandatory anonymity, making it particularly appealing to users who value privacy without sacrificing flexibility.

Renewed demand for privacy options on public blockchains has driven sharp increases in trading activity. Over the past 24 hours, Zcash processed more than $1.6 billion in trading volume, according to data from CoinGecko.

The broader privacy coin sector has also seen notable gains, with Dash rising over 200% in late October. Additionally, several smaller privacy tokens have recorded double-digit increases over the last week, continuing to post impressive gains in the past 24 hours.

One reason for Zcash's momentum could be the commentary from industry figure Arthur Hayes, who has argued in recent posts that Zcash could eventually reach significantly higher price levels. His insights and influence may have contributed to growing market interest in the token.

Zcash has now overtaken Monero in market capitalization, marking a significant shift in leadership within the privacy coin category. For years, Monero has been the dominant token in the sector, but Zcash's recent performance suggests a competitive shift is underway.