Key highlights:
- Zcash traded above $1,600 on Wednesday
- The NU7 network upgrade has been slated for November 5
- 21Shares launched Europe’s first Zcash ETP on Euronext Amsterdam and Paris
Rising privacy use adds to the momentum
Data from Blockworks shows that shielded transactions totaled 4,911,697 last week. That is the highest weekly figure recorded since 2022, with most of that activity coming from its Ironwood pool.
Zcash shielded supply. Source: Blockworks
Zcash’s rise has also been compared to Bitcoin. The token has gained about 1,110% in the past year. Grayscale’s head of research, Zach Pandl, opined that Zcash may hold “second-mover advantages” that could help it succeed where other Bitcoin altcoins, like Litecoin, have struggled.
Source:: Zcash Breaks Higher as NU7 Upgrade and First Europe ETP Draw Closer