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Zcash Nears $900 as ZEC Hits Eight-Year High, Outperforming Bitcoin

Source Tradingkey

TradingKey - Zcash (ZEC) Surges Toward $900 Mark, Hitting 8-Year High and Strongly Outperforming BTC.

On August 25, leading privacy coin Zcash (ZEC) hovered at high levels, up a slight 0.2% today to trade at $836.14, ranking 11th globally in market capitalization. Last Sunday, ZEC's price surged close to the $900 mark, reaching a high of $888 to set a nearly 8-year high, far outperforming Bitcoin (BTC).

zcash-zec-price-8bcc7b7588e24ec0a52531412a3a4d64 ZEC price chart, Source: TradingView

Over the past 7 days, ZEC not only continued to hit new highs, gaining over 60%, while Bitcoin rose by only 20%, failing twice in its attempts to break the $80,000 mark. ZEC's parabolic surge and distinct "de-Bitcoinization" trend represent one of the most closely watched capital reallocations in the crypto asset market recently. abtc-3a16797c2329497d8af17495cae9e582 ZEC and BTC 7-day gains, Source: CoinMarketCap

ZEC's strong breakout marks a structural repricing of capital in the privacy asset sector, boosting other privacy coins to follow suit. Over the same period, Dash (DASH) gained over 40%, Tezos (XTZ) rose 16%, and Monero (XMR) climbed 6%.

Source

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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