Aster News Today: Zcash Surges 30% as Privacy Coins Surpass Meme Tokens
- Zcash (ZEC) surged 30% after Arthur Hayes' high-profile WILD token purchase signaled bullish sentiment for privacy coins. - Monero (XMR) surpassed Shiba Inu (SHIB) in market cap, reflecting growing institutional demand for privacy-focused assets. - Trump's pardon of CZ boosted Binance and Aster (ASTER), which gained 15% via its Rocket Launch campaign and whale activity. - Analysts highlight Zcash's 27.5% shielded supply scarcity and 22% futures open interest growth as key drivers in weak crypto markets.
Zcash (ZEC) experienced a dramatic increase of more than 30% within a single day, fueled by renewed investor excitement after BitMEX co-founder Arthur Hayes conducted a "vibe check" and made a notable purchase of Wilder World (WILD) tokens, according to a
Hayes, a well-known and sometimes controversial figure in crypto, withdrew 2.16 million WILD tokens (worth $463,000) from platforms such as KuCoin and Gate.io, demonstrating his belief in the asset’s future, as highlighted by Bitcoinsistemi. His actions frequently influence market trends, and this event was no different. Zcash’s price spike followed a 461% rally over the past month, largely driven by the growing use of shielded transactions—a privacy tool that conceals transaction information and reduces available supply, according to CoinDesk. Analysts observed that Zcash’s leadership in the privacy coin space was further strengthened by a 22% increase in futures open interest, reaching $303 million and outpacing most major cryptocurrencies, as CoinDesk also noted.
Wider cryptocurrency markets also experienced turbulence due to macroeconomic shifts and regulatory news.
Privacy-focused coins such as Monero and
The intersection of influencer sentiment, regulatory developments, and growing demand for privacy is transforming the cryptocurrency sector. While Zcash’s recent rally is still closely linked to market excitement, its future will rely on the continued adoption of privacy features and institutional backing. For now, the coin’s comeback highlights the lasting demand for anonymity amid increasing concerns over data privacy.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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