Zcash Surges 49% as Hayes and Ravikant Boost Privacy Coins
Privacy coins are rallying hard after BitMEX co-founder Arthur Hayes pumped Zcash on Anthony Pompliano's podcast this week, while billionaire backers including the Winklevoss twins invested real money into the sector.
Key Takeaway
Privacy coins are finally moving after years of underperformance, backed by whale money and influencer hype.
BitMEX co-founder Arthur Hayes spent this week pumping Zcash on Anthony Pompliano's Bitcoin podcast, and the privacy coin delivered a 49% weekly gain that left Bitcoin's 8% rise looking flat.
Dash did even better with a nearly 53% weekly jump, according to CoinGecko data. By Saturday morning in New York, Zcash was trading at ₱22,234 ($371) while Dash hit nearly ₱2,757 ($46). Bitcoin sat at ₱4,358,450 ($72,727) and Ethereum at ₱134,480 ($2,244) after posting a 9% weekly gain.
The privacy coin rally picked up momentum after Binance founder and ex-CEO Changpeng Zhao warned about the dangers of public blockchains this week. AngelList founder Naval Ravikant had already set the stage last year when he wrote on X that Bitcoin is insurance against fiat and Zcash is insurance against Bitcoin.
Billionaires Cameron and Tyler Winklevoss backed the trend with real money, investing through Winklevoss Capital in a Zcash treasury company. Foundry Digital, the world's leading Bitcoin mining pool operator, announced the debut of a mining pool for Zcash in March.
Monero managed just a 7% weekly gain despite sharing the same privacy-focused pitch as Zcash and Dash. Trump's announcement of a ceasefire with Iran triggered broader market gains across crypto this week, but the privacy coins clearly benefited from something more than just macro tailwinds, with Foundry Digital's March announcement of Zcash mining pool support accelerating institutional interest.
This article was written based on reporting from Dlnews.
