$ZEC In the past week, it quietly rose another 45%, setting a new high since 2016. It even surged to around $1,250 per coin. Its market cap has exceeded 20 billion, and after setting a new high, it fell slightly today by more than 5%. Zcash is a privacy project championed by many big names—Gemini’s twin founders frequently promote it on X, and Arthur Hayes often talks about it too. But a reminder: when many big figures are all pushing the same project, it’s often a dangerous signal. To get very good returns from this point onward, the opportunities are already limited. What’s truly worth paying attention to is the message it represents: the privacy-coin market is extremely strong. Zcash is a bit like Bitcoin within the privacy sector, while Midnight in the $ADA ecosystem is a fully private ecosystem—there are many things it can do that Zcash can’t. If the privacy sector can set new highs again in this market, that indirectly indicates Midnight’s future flexibility and potential, with almost no ceiling.