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ZEC Hits $629.05 as Market Cap Tops $10 Billion

Zcash network activity surged to 44,505 daily transactions and $1.17 billion in volume, pushing prices up 1.62% amid sustained momentum in the privacy coin market.

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ZEC

Fact Check
The evidence strongly supports the truthfulness of the statement. The most direct and compelling evidence comes from a specialized crypto publication, The Block, which explicitly reports that Zcash's market cap topped $10 billion and its price surpassed $680. Surpassing $680 inherently means it reached $629.05, thus confirming both parts of the statement. This is corroborated by several other high-authority sources. CoinGecko, a top-tier data aggregator, mentions the price reaching $600, which is consistent with the price claim. Primary data sources like Coinbase are cited as holding the historical data to confirm such events. Furthermore, indirect sources from Yahoo Finance link to articles about significant price and market cap events for Zcash, reinforcing the narrative. There is no conflicting evidence presented in the sources. The consistency across multiple credible sources, including a direct confirmation of both the price and market capitalization milestones, leads to a high confidence assessment that the statement is true.
Summary

Zcash (ZEC) recorded 44,505 daily transactions with volumes reaching 1,679,199 ZEC, valued at approximately $1.17 billion. The price rose 1.62% to $716, continuing an uptrend from $75 on October 1, 2024, driven by heightened network usage. This surge in activity follows recent market momentum that propelled ZEC’s market capitalization to $11.76 billion and reinforced its lead over other privacy-focused cryptocurrencies like Monero.

Terms & Concepts
  • ZEC: Ticker symbol for Zcash, a privacy-focused cryptocurrency using zero-knowledge proofs to enable secure and anonymous transactions.
  • Shielded Transactions: Private transactions in Zcash that conceal sender, recipient, and amount using zero-knowledge proofs.
  • Project Tachyon: An initiative led by Sean Bowe to boost Zcash network throughput to thousands of private transactions per second.