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$ZEC Reclaims $700 Amid Massive Rally Zcash ($ZEC) has surged past $700 following a strong rally, overtaking Monero ($XMR) as the top privacy-focused cryptocurrency. With momentum continuing to build and Arthur Hayes describing it as “insurance against Bitcoin,” analysts are now eyeing even higher $ZEC price targets. $ALLO $ETH

A sharp sell-off once again affected the cryptocurrency market today. With the decline accelerating throughout the day, Bitcoin ($BTC ) fell below the $92,000 level, while Ethereum ($ETH ) lost the psychological $3,000 threshold. The market decline was further deepened by mass liquidations of heavily leveraged positions. The price of Bitcoin fell 2.46% in the last 24 hours to $91,789. The weekly loss is 13.29%. BTC's market capitalization has fallen to $1.83 trillion. The Ethereum price also suffered from the sharp market decline. ETH fell 3.54% to $2,984, a weekly decline of 16.35%. Chart showing the decline in ETH price. Solana attracted attention with a 21.98% weekly loss, while Cardano's loss reached 21.39%. One of the biggest factors in the deepening market decline was the mass liquidation of leveraged positions. According to Coin glass data: 1-hour liquidations: $122.26 million 4-hour liquidations: $274.98 million 12-hour liquidations: $579.83 million 24-hour liquidations: $795.36 million The most liquidated assets were: BTC: $396.65 million ETH: $165.65 million ZEC: $44.52 million XRP: $43.50 million LEFT: $37 million The US macro environment, uncertainty surrounding the Fed's interest rate decision, and the intense selling pressure experienced in the crypto market in recent days are straining investor sentiment. Analysts note that similar price movements can rapidly deepen during periods of high leverage.

Over the weekend, I saw a lot of backlash on @0xMert_, @cobie, and others over $ZEC pumping hard. Some said ZCash has no utility, and some others said it only ripped due to top influencers shilling their bags. The fact is, the pump absolutely had influencers and momentum, but that did not appear out of a dead project. We both agree it looked dead, and I remain of the opinion that the market's new money inflow will come from old cash and developments. Privacy and Zcash were one of them. Privacy has found its moment already. Your job is to find a way to capitalize. Below are a few facts countering the “no utility” opinion. -------- Zcash has had a steady sequence of network upgrades over the years. If you read my post on the "History of ZK, you should know this already. From 2018 to 2020, the focus was on efficiency and funding. The Sapling upgrade in 2018 introduced lighter and faster shielded transactions, which was what enabled mobile and consumer wallets. The Heartwood upgrade in 2020 added shielded mining rewards to the development to ensure that miners receive block rewards privately. In 2020, the Canopy upgrade overhauled the funding model and created a new four-year development fund managed by Electric Coin Company, Zcash Foundation, and community grants. These were years of privacy development, mining incentives, and funding. In 2022, they established "NU5 and Orchard." That was the beginning of cryptographic engineering. NU5 was activated in May 2022 and is still described as the most important upgrade since launch. It: → Moved Zcash to the Halo 2 proving system and eliminated trusted setup. → Introduced the Orchard shielded pool with a more friendly cryptography. → Added Unified Addresses, ensuring that every one address can transparently route funds to the newest shielded pool, which makes privacy the default UX. Furthermore, a year ago, in 2024, they launched the "treasury and future upgrades." The NU6 in 2024 included a protocol treasury lockbox to manage the development fund more transparently and in a more decentralized way. Now, NU6.1 and NU7 are already in planning and testnet. -------- The outcomes... → Halo and Halo 2, the proving systems originally built for Zcash, removed trusted setup and enabled recursive proofs. → ZCash is being used by Filecoin, Ethereum research groups, several L2 and privacy projects like Scroll, DarkFi, Orbis, and Anoma. So, hate the token or not, the tech continues as the pillar of modern zero-knowledge infrastructure. Looking on-chain, I also found out that: → Right now, ~25% of the circulating ZEC is held in shielded addresses. In 2017, it was 5%. → 30% of all transactions involved the shielded pool, while the main shielded pool is now over 30% of the total supply. There are more facts, but this is all I'll share. Check out @DefiIgnas's post below as well. You should know that ZCash having its moment should be a research alpha. There are a few old tokens from past cycles doing numbers post ZEC pump. Make a list of old coins that have been shipping for the long-term, with current and upcoming narrative or sectors, ZEC is your template.

Well-known trader James Wynn warned that Zcash (ZEC) is an organized pump-and-dump scheme pushed by big influencers. Remember, since the start of October, the price of ZEC has grown more than 8 times. By the way, during the same period, Wynn was liquidated about 50 times. He also said that the AI market is in a huge bubble, which “could be even worse than the dot-com crash.”