The source says traders pushed Zcash sharply higher, lifting the privacy-focused cryptocurrency above Monero by market capitalization.
Zcash rose past $600 after a 40% price spike, according to the source, as trader activity drove a sharp move in the privacy-coin segment. The rally was large enough to push Zcash ahead of Monero by market capitalization, indicating a change in relative market standing between two of the best-known privacy-focused cryptocurrencies. Market capitalization refers to a token’s circulating supply multiplied by its price, and shifts in that ranking often reflect rapid changes in investor demand and trading momentum.