Zcash (ZEC) has published two numbers, driven primarily to renew the demand for privacy -focused coins, which stand out in the encrypted currency market.
From the time of the press, ZEC was trading at $ 51.67, an increase of more than 10 % in the past 24 hours. Over the course of last month, Zcash increased by more than 40 %, prompting the market value to about 860 million dollars, as it approached the teacher of $ 1 billion.
While most of the major cryptocurrencies are still under pressure, the ZCash Rally partially nourishes it using its privacy features.
The main scale that supports this momentum is the total ZEC supplies are protectedWhich rose by 6484 ZEC on June 1, thus to 3,119,887 ZEC, at a value of about $ 161.6 million. This is an increase of $ 1.26 million in protected transactions in just one day.
Protected holdings are an essential feature that provides special transactions on the ZCash network. It reflects an increasing preference for controlling control, amid potential monitoring and detectives bypassing the organization.
The maximum of the largest largest privacy market is now $ 8.8 billion, an increase of 1.3 % in the past 24 hours. This contradicts the encryption market as most of the assets remain in red.
High demand for privacy codes
Interestingly, the rise of Zcash comes despite the escalating challenges. In April, ZEC was again inserted into a deletion vote, which raised concerns about the stock market’s position on privacy currencies.
ZEC has faced multiple threats of platforms, and has undergone doubtful voting practices, including alleged fraud, which sparked recovery from the broader encryption community.
Meanwhile, Monero (XMR), which is the high privacy currency, also witnessed an increase in purchase pressure, even after it was deleted from the main exchanges such as Coinbase.
Amid these opposite winds, Monero is still the best option for inaccurate transactions, thanks to advanced privacy techniques.
Distinctive image via Shutterstock
