Samson Mow, one of the most vocal Bitcoin maximalists, has urged Zcash holders to buy Bitcoin.
Mow has drawn parallels between the recent Zcash rally and the price trajectory of meme cryptocurrency Dogecoin (DOGE).
"For everyone excited about Zcash, this is DOGE. Your job is to figure out where on this chart you’re at right now," he said.
Stunning ZEC rally
Zcash, a privacy-focused cryptocurrency, normally attracts very little attention. However, it recently became the talk of the crypto town due to its enormous rally.
In fact, the coin's price has skyrocketed by more than 100% since November.
Some analysts believe that increased concerns about surveillance, regulatory pressure, and financial censorship are making privacy coins more attractive.
Zcash has also made some meaningful technical and infrastructure improvements, such as increased adoption of shielding and cross-chain integration. Former BitMEX CEO Arthur Hayes is now predicting that its shielded transactions are going to power the next wave of true DEXes.
Hence, it is rather safe to say that the most recent ZEC rally is not entirely hype-based.
As reported by U.Today, Zcash recently entered the CoinMarketCap top 20 following its blistering aggressive rally.
Over the past 24 hours, the coin's price has surged by yet another 20%, with its market cap surpassing $10 billion. The token is now up by 1,000% within just six weeks. Crypto exchange BitMEX has quipped that "altseason" has now been rebranded to "ZEC season."
The ZEC/USDT pair has topped $540 million in trading volume on the Binance exchange.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team