Zcash tops privacy coins with a $10.6 billion market cap, outperforming Monero amid renewed investor demand for onchain anonymity.
While the rest of the crypto space has entered a slump, traders are banking on privacy tokens, with Zcash leading the charge.
CoinMarketCap data shows that Zcash (ZEC) climbed to a high of $655 earlier Friday, reaching a market capitalization of about $10.6 billion. At the time of writing, the rally had cooled and retraced to $632, giving it a $10.3 billion valuation and positioning it as the 12th-largest crypto asset by market cap.
ZEC is up by almost 23% in the last 24 hours and has increased in value by more than 63% in the last week, according to CoinMarketCap.
