🔥🔥🔥 Why #Zcash ’s Price Topped the #CryptoCharts Last Week?
Zcash Leads Market Gains as Founder Returns and MetaMask Integrates Support
- Last week, Zcash (ZEC) emerged as a leading crypto asset, securing the fifth spot among top gainers. By Tuesday, it trailed only Aptos (APT) at #4, with Sui (SUI) leading the week’s gains at +57%. Zcash saw a remarkable 29% gain over seven days and surged 56% from its low point between August 5 and August 12.
Why Did Zcash Outperform?
While much of the cryptocurrency sector struggled, Zcash’s
impressive performance can be attributed to several factors:
1. Founder’s Return: Zcash’s recent rally coincides with the return of its founder, Zooko Wilcox. After stepping down as CEO of the Electric Coin Company in December, Zooko announced his return to lead the project through Shielded Labs. His comeback has been positively received, with support from notable figures like Ethereum founder Vitalik Buterin, who emphasized the importance of Zcash’s mission beyond individual contributions.
2. #Metamask Integration: In early August, MetaMask, the leading Web3 wallet for Ethereum and DeFi, announced support for Zcash. This integration, bolstered by a $150,000 matching grant from MetaMask for developing a MetaMask Snap to support Shielded ZEC, has further boosted Zcash’s market appeal.
The Broader Impact
- The excitement around Zcash’s developments, alongside a broader recovery rally in the crypto market, has contributed to its gains. Additionally, Monero (XMR), another privacy-focused cryptocurrency, also saw price increases, suggesting a potential surge in interest for privacy coins.
- Zcash, a privacy-focused coin derived from #Bitcoin’s codebase, continues to attract attention and investment as it strengthens its position in the crypto space.
Source - cryptopotato.com
