Why Did Only Privacy Coins Skyrocket? Reasons Stronger Than Bitcoin

▲ Zcash (ZEC), Bitcoin (BTC), Cryptocurrency Mining/AI Generated Image ©

While Bitcoin and Ethereum showed an upward trend, privacy coins demonstrated a much stronger surge, taking market leadership.

According to DLNews on April 12 (local time), Bitcoin and Ethereum rose by 8% and 9% respectively in the week following the announcement of a ceasefire between the US and Iran. During the same period, privacy coins Zcash and Dash recorded double-digit surges, showing even greater gains.

Zcash rose to $371 by Saturday morning New York time, a 49% increase on a weekly basis, while Dash surged approximately 53% to reach around $46. Monero also rose by 7%, indicating strong buying pressure across the entire privacy coin sector.

Behind this surge are statements from key industry figures. Arthur Hayes actively mentioned Zcash in a recent Bitcoin-related broadcast, and Changpeng Zhao emphasized the importance of privacy technology while highlighting the risks of public blockchains.

Furthermore, Naval Ravikant strengthened the privacy coin narrative with his remark, “If Bitcoin is insurance against fiat, Zcash is insurance against Bitcoin.” Winklevoss Capital invested in a Zcash-related treasury company, and Foundry Digital announced the launch of a Zcash mining pool, indicating a continuing trend of expanding interest from institutions and the industry at large.

Meanwhile, Bitcoin is currently trading at around $73,337 and Ethereum at $2,298, continuing their upward trend, but the consensus is that the true winners of the market this week are privacy coins. The market is paying close attention to whether the short-term rally in this sector will continue, driven by statements from key figures and an influx of capital.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*