Zcash (ZEC) has surged nearly 90% over the past month, defying a broader crypto market downturn that saw Bitcoin fall below $78,000. The privacy-focused cryptocurrency has outperformed major assets like Bitcoin, Ethereum, and XRP, driven by renewed interest in privacy-centric digital assets and expectations of achieving "post-quantum" status within 12 to 18 months. Large buy orders and short covering have also contributed to ZEC's upward momentum.
In contrast, Bitcoin has faced pressure, dropping below $78,000 after encountering resistance near $82,000. Macroeconomic concerns, including inflation and rising U.S. Treasury yields, have dampened risk appetite, leading to net outflows from U.S. spot Bitcoin ETFs and increased selling pressure in the derivatives market. This has resulted in a $100 billion decline in the total crypto market capitalization.
Zcash Soars 90% in a Month Amid Bitcoin's Decline
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