$NEAR Jumped 23%. $ZEC Traders Help Explain Why Who gets paid when privacy gets popular? The interesting part of NEAR’s rally is happening inside other people’s wallets. During Monday’s Asian session, $NEAR gained roughly 23%, trading above $4. CoinDesk reported that daily ZEC swap volume routed through NEAR Intents had increased sixfold over the preceding week, with wallets including ZODL and Vizor using the service. That gives the rally a concrete adoption story, although it doesn’t establish that swap traffic explains the entire price move. The price needs a timestamp. By 21:45 UTC on September 21, CoinMarketCap’s data showed NEAR around $4.13, approximately 65% higher over seven days, but about 1% lower over the rolling 24-hour window. The morning’s headline was already an incomplete picture. ZODL uses NEAR Intents to swap into and out of shielded ZEC. Its CrossPay feature also lets someone send shielded ZEC while the recipient receives another asset, such as $BTC or a stablecoin. The user gets a simpler payment experience; NEAR’s infrastructure handles part of the work behind it. But does that activity benefit the token? There is a mechanism worth watching. DefiLlama’s methodology identifies captured Intents revenue being used for NEAR buybacks, rather than burns. That’s why I’m watching retained revenue and repeat usage alongside ZEC volume. Dollar-denominated volume can grow simply because the assets being traded become more expensive. A busy week doesn’t yet establish durable demand. Zcash is bringing attention to a useful NEAR product. Whether that supports the token’s new valuation depends on how much business stays after the excitement fades. Would you back the privacy asset itself; or the infrastructure earning fees from its use ? #Altcoin Season# #BTC Price Analysis# #Macro Insights#