📰 The most interesting part of this ZEC move may not just be how much it has risen itself, but the “toll road” behind it that has been brought into view: the Zashi wallet has integrated NEAR Intents, allowing users to swap BTC, SOL, and USDC into shielded ZEC, and also swap shielded ZEC back into assets on other chains.
🔥 This means ZEC capital inflows and outflows may both pass through NEAR Intents. On top of that, NEAR will activate its Fee Switch in February 2026, with protocol fees collected in NEAR, and 100% of the protocol fee used for open-market buybacks of NEAR. That does sound pretty smooth: the hotter ZEC trading gets, the more cross-chain swaps there are, and the more buybacks there are.
💡 The data also shows this relationship is not just imagination. As of early September, NEAR Intents had accumulated about $27.6 billion in trading volume and about $45 million in cumulative fees. More importantly, the trading pairs USDT/ZEC, USDC/ZEC, SOL/ZEC, and ETH/ZEC together accounted for nearly 40% of trading volume.
But to be honest, total fees and the money actually used to buy back NEAR are not the same thing. DefiLlama data shows that protocol treasury revenue was about $5.51 million, and about $910,000 over the past 30 days. Most of the fees are actually distributed to solvers and channel partners, while Zashi contributed about $760,000.
🤔 So whether NEAR can keep benefiting from ZEC’s popularity depends not only on whether trading volume can keep rising, but also on ZEC’s share within it. If that share clearly declines in the future while total trading volume can still keep expanding, only then can NEAR truly be said to have broken away from dependence on a single asset. What do you think—how long can this cross-chain “toll road” last?
#ZEC #NEAR #跨链 #privacycoin
🔥 This means ZEC capital inflows and outflows may both pass through NEAR Intents. On top of that, NEAR will activate its Fee Switch in February 2026, with protocol fees collected in NEAR, and 100% of the protocol fee used for open-market buybacks of NEAR. That does sound pretty smooth: the hotter ZEC trading gets, the more cross-chain swaps there are, and the more buybacks there are.
💡 The data also shows this relationship is not just imagination. As of early September, NEAR Intents had accumulated about $27.6 billion in trading volume and about $45 million in cumulative fees. More importantly, the trading pairs USDT/ZEC, USDC/ZEC, SOL/ZEC, and ETH/ZEC together accounted for nearly 40% of trading volume.
But to be honest, total fees and the money actually used to buy back NEAR are not the same thing. DefiLlama data shows that protocol treasury revenue was about $5.51 million, and about $910,000 over the past 30 days. Most of the fees are actually distributed to solvers and channel partners, while Zashi contributed about $760,000.
🤔 So whether NEAR can keep benefiting from ZEC’s popularity depends not only on whether trading volume can keep rising, but also on ZEC’s share within it. If that share clearly declines in the future while total trading volume can still keep expanding, only then can NEAR truly be said to have broken away from dependence on a single asset. What do you think—how long can this cross-chain “toll road” last?
#ZEC #NEAR #跨链 #privacycoin
