A 2,564% surge in one year: the digital currency you didn't know is conquering the market

The cryptocurrency Zcash (ZEC) recorded an extraordinary annual surge of 2,564.9%, outperforming leading coins like Bitcoin and tech stocks. The rise occurs against a backdrop of declines in the broader crypto market and a US interest rate hike. Key drivers: fear of government surveillance and the launch of a Grayscale ETF.

The cryptocurrency Zcash (ZEC) recorded an extraordinary annual surge of 2,564.9%, becoming the best-performing digital asset among the top 100 projects in the market. The article reports that the coin surged 18.2% in the last day, 65% in the last two weeks, and 166.5% in the past month, outperforming leading coins like Bitcoin and Solana and tech stocks like Nvidia. The surprising rise occurs precisely against the backdrop of a sharp price correction in the crypto market last Wednesday, after the Clarity Act failed to pass in the US Senate and Bitcoin fell below $75,000. Additionally, the US central bank's decision to raise interest rates increased pressure on digital assets. According to the article, Zcash is enjoying growing demand due to its privacy features, amid growing fear of government surveillance. Another factor is the launch of a dedicated ETF for the coin by Grayscale. However, analysts estimate that the current wave may cool in the coming days due to high interest rates and low risk appetite.