TradingKey – Privacy-focused cryptocurrencies rallied sharply on Friday, October 10, with Zcash (ZEC) leading the charge past $240 — its highest level since 2021.
The privacy coin sector saw broad gains, pushing its total market capitalization above $12.6 billion. Over the past 24 hours:
- Railgun (RAIL) soared over 70%
- Zcash (ZEC) and Dash (DASH) jumped more than 40%
- Verge (XVG) climbed nearly 20%
Zcash stood out as the top performer, continuing its upward momentum and breaking through the $240 mark. Since receiving public endorsement from Silicon Valley angel investor Naval Ravikant, ZEC has surged more than 200%.
ZEC Price Chart – Source: TradingView
On October 1, Naval posted on X (formerly Twitter), stating: “Bitcoin is insurance against fiat. Zcash is insurance against Bitcoin.” His comment sparked renewed interest in ZEC and helped fuel a broader rally in privacy coins.
ZEC’s current breakout marks a dramatic reversal from late 2023, when OKX delisted the token, triggering panic selling and a prolonged slump near $20. Today’s rally reflects a shift in sentiment, as investors re-evaluate privacy assets amid growing concerns over surveillance and financial sovereignty.
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