Zcash’s market cap reaches $8.9 billion as institutional backing and ETF plans drive a 1,140% annual surge.
Zcash has climbed 1,140% over the past year, fueled by backing from bitcoin pioneers like the Winklevoss twins and Barry Silbert’s Digital Currency Group. The token’s 50% monthly gain follows Grayscale’s plan to convert its Zcash trust into an ETF and a fading SEC investigation.
Founded in 2016, Zcash offers optional privacy features, concealing transaction details while operating similarly to bitcoin. Its market cap stands at $8.9 billion, a fraction of bitcoin’s $1.59 trillion. Regulatory concerns persist, though analysts note illicit groups prefer bitcoin and stablecoins.
The Winklevoss twins committed $50 million to Cypherpunk Technologies, a Zcash-focused digital asset treasury, reinforcing institutional conviction in the token’s long-term potential.