Zcash has climbed more than 120% this year, making it the strongest-performing major token as most crypto assets declined. The privacy coin has also reached a record high against Bitcoin, Bloomberg reported. The rally was driven by demand for Zcash’s optional “shielded address” feature, which supports privacy while addressing compliance needs, alongside comments from early supporter Naval Ravikant, increased holdings by Winklevoss-backed Cypherpunk Technologies, and miners shifting to Zcash mining and holding coins. Buying was further amplified by Solana memecoin ZCAT distributing Zcash rewards to large holders and Grayscale launching the first Zcash ETF in the U.S.