The confidential coin #Zcash sharply increased in price on October 10, rising by more than 50% in 24 hours and reaching a mark of $267. This surge raised the weekly gain of ZEC to 90%, and its market capitalization exceeded $4 billion for the first time since November 2021. #USDT
Since September 23, the price $ZEC
ZEC
415.68
-1.70%
increased by 434%, making the cryptocurrency one of the most successful altcoins in the last 30 days.
The key factor in the growth is considered to be the launch by Grayscale of the ZEC product, which provides institutional and accredited investors with a simpler and more regulated way to access the confidential coin without direct ownership of the underlying asset.
Moreover, according to Binance, on October 10, the total capitalization of private coins approached $13 billion, and most of them showed double-digit gains in 24 hours. For example, #RAIL rose by more than 110% to $5.14, while $DASH , #XVG , $TORN , and DCR increased by 36%, 22%, 14%, and 11.6%, respectively.