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Alright, let's get one thing straight: anyone who thinks crypto is actually about privacy is probably still using Internet Explorer. But fine, Zcash is having a moment. A big one. Up tenfold in five weeks? Seriously?
The Privacy Mirage
So, Zcash is "surging" because Bitcoin is suddenly too corporate? Give me a break. Bitcoin was always about money, and money always gets co-opted. Now everyone's all clutching their pearls because BlackRock has an ETF? Where were these people in 2017?
The official line is that "growing anxieties about Bitcoin’s privacy and decentralization" are fueling this Zcash rally. Okay, maybe. But let's be real, most crypto investors couldn't explain zero-knowledge proofs if their lives depended on it. They see a green candle and they pile in. That's the whole story.
And this whole thing about that Samourai Wallet developer getting five years? Yeah, that's messed up. But let's not pretend Zcash is some kind of noble freedom fighter. It's a damn cryptocurrency. It's got a market cap of eleven billion dollars. If you think that's about sticking it to the man, I got a bridge to sell you.
I mean, are we really supposed to believe that this is the hill crypto is going to die on? Privacy? After all the rug pulls, scams, and environmental damage?
The Pump is On, But For How Long?
The article mentions "technical upgrades" from the Electric Coin Company. Oh, goodie. More jargon. More promises of a brighter future. More ways for insiders to enrich themselves.
They're talking about the "rising popularity of the Zashi wallet" and "Project Tachyon." Sounds like something out of a bad sci-fi movie. But hey, it's enough to get the "investor confidence" flowing, apparently. According to Privacy Coin Zcash Continues Historic Surge, Nearing 8-Year High Price, Zcash's surge is indeed historic.
And the trading volume? Up to $1.8 billion a day? That's not organic demand, that's a feeding frenzy. It's like watching a bunch of piranhas strip a carcass clean. Delicious, I'm sure, for some.
Then again, maybe I'm the crazy one here. Maybe Zcash really is the future of privacy. Maybe everyone will suddenly wake up and demand truly anonymous transactions.
Nah.
The spot-to-futures ratio is "high," indicating "organic demand." Right, and my grandma is a Formula 1 driver.
Oh, and offcourse, it's broken above $500, representing a "full retracement" of the 2021 highs. That means absolutely nothing to the average person who's just trying to pay their rent. Zcash Price Analysis: Breaks Into Top-20 Cryptos, Hits $600 for First Time Since 2018 confirms that Zcash has broken into the top 20 cryptos.
