Privacy-Themed Altcoins on the Rise: Zcash is Taking the Lead

Zcash (ZEC) has gained more than 40% in the last 24 hours, surpassing $230 and rekindling interest in privacy-focused cryptocurrencies. This situation has caused privacy-themed altcoins, which have shown remarkable performance in the markets, to come to the attention of investors.

Zcash has crossed the $230 level for the third time in its history, marking a significant threshold transition. With a 40% increase in the last 24 hours, it has significantly outperformed the average 15% rise in the privacy category, according to CoinGecko data. So, what are the reasons behind Zcash’s rise?

First and foremost, the renewed discussions around financial surveillance and privacy in Europe, increased interest in Zcash's mobile wallet integrations, and the overall increase in transaction volume in the sector are among the main factors driving this movement. In the last 24 hours, the approximate $1.5 billion in transaction volume recorded for Zcash indicates that it has also gained value alongside other privacy altcoins such as Dash and Railgun.

Thor Torrens, an Emmy-winning former White House advisor who sits on the Zcash advisory board, pointed out that the issue of privacy will become increasingly important in the future. Torrens stated, “Surveillance and censorship are not decreasing but are increasing. Therefore, privacy will become more valuable,” adding that the upcoming Zcash halving could also create additional momentum for the price.

Launched in 2016, Zcash is known for its technical structure that supports both transparent and completely private transactions. Thanks to a technology called zk-SNARKs, or "zero-knowledge proofs," users can transfer funds without disclosing transaction details. This provides a model that maintains the balance between privacy and compliance.

Despite a nearly 400% increase in Zcash's price over the last 30 days, it is still trading about 92% below its all-time high of $3,191 reached in 2016. As of the time of writing, ZEC is trading around $231.57.