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Zcash Breaks Out of 8-Year Downtrend, Up 70% in Month
Zcash (ZEC) is experiencing a notable rise, breaking an eight-year downtrend against Bitcoin (BTC) on the monthly logarithmic chart. Key highlights include:
- ZEC has surged 70% in the last 30 days and 130% year-on-year against the dollar.
- The breakout from the downtrend, initiated in 2017, was highlighted by crypto trader TraderButWhy on Sept. 29.
- Mert, founder of Helius and a prominent advocate for ZEC, has been promoting it as a leading privacy solution, possibly driving its recent performance.
- Zcash has undergone significant developments over nine years, enhancing privacy features like the transition to the Orchard Pool powered by Halo 2, eliminating the need for a trusted setup.
- ZEC is currently trading at $67.66, marking significant growth from its previous position in the crypto market ranks.
- Interest in privacy coins, including Zcash, is rising, as evidenced by increased Google searches.
