Entrepreneur and thought chief Naval Ravikant unexpectedly put Zcash (ZEC) again on the map by evaluating its position within the crypto world to Bitcoin’s position in opposition to fiat currencies.
The thought is that if Bitcoin is the primary line of protection in opposition to inflation and state-controlled cash, Zcash will be the defend that protects digital wealth from the rising attain of surveillance.
The coin’s shielded transactions have made it common. Practically 20% of the availability of Zcash, which is held in a privateness pool, is now totally encrypted.
This development was constructing in silence till Ravikant’s help introduced it to middle stage at a time when governments worldwide are leaning more durable into capital controls and on-chain monitoring.
Zcash (ZEC) value skyrockets
The market response has been quick. ZEC jumped by greater than 27% in a single day, reaching a value of round $94 — its highest stage in over a 12 months. Regardless of the rally, the token nonetheless trades at over 70% of its earlier cycle peak of almost $320, leaving room for merchants who view privateness as the subsequent main pattern.
Halving occasions have additionally diminished new issuance, mitigated promoting strain and influenced the long-term provide outlook.
Ravikant’s transfer means that he views Zcash as extra of a hedge than a speculative altcoin, which may achieve actual relevance if surveillance finance turns into the norm.
If that occurs, his name might look much less like a contrarian wager and extra like early positioning in what may change into the defining privateness asset of the subsequent decade.