Canton Leads Privacy Coin Rally As Midnight, Zcash, Monero Tick Up► https://t.co/R8BQKAW2ww https://t.co/R8BQKAW2ww ...

Zcash Founder Zooko Wilcox Joins ZEC Treasury Firm as Privacy Coin Surges► https://t.co/AJjKC0iJ7R https://t.co/AJjKC0iJ7R ...

🚨 LATEST: New rankings show the top 10 privacy coin projects by development, along with how each has moved since the last update. https://t.co/Bii0bVpY8W ...

RT Santiment (@santimentfeed)🧑‍💻 Here are crypto's top 10 privacy coin projects by development. Directional indicators represent each project's ranking positioning since last update:📈 1) @nym $NYM 🥇📈 2) @dashpay $DASH 🥈📈 3) @hoprnet $HOPR 🥉📈 4) @zcash $ZEC📈 5) @decredproject $DCR📈 6) @monero $XMR📈 7) @duskfoundation $DUSK📈 8) @concealnetwork $CCX📈 9) @beldexcoin $BDX📈 10) @firoorg $FIRO📖 Read about the @santimentfeed methodology for filtering notable github activity data from project repositories, and why i ...

Core Viewpoint - Grayscale is seeking to launch the first US Zcash ETF, aiming to provide regulated, exchange-traded access to ZEC, a privacy-focused cryptocurrency [1][3]. Group 1: ETF Details - Grayscale filed a Form S-3 with the US Securities and Exchange Commission to convert the Grayscale Zcash Trust into an ETF, which would trade on NYSE Arca under the ticker ZCSH [1]. - The ETF is designed to track CoinDesk's Zcash Price Index (ZCX) [1]. - Upon regulatory approval, the product will be renamed to Grayscale Zcash Trust ETF [5]. Group 2: Asset Management - Coinbase Custody will hold the underlying ZEC assets, while Coinbase, Inc. will act as the prime broker, and BNY Mellon will serve as the transfer agent and administrator [2]. - As of November 25, the trust held approximately 394,400 ZEC, valued at around $199 million based on that day's prices [6]. Group 3: Market Context - The filing comes after a challenging year for ZEC, but the token has recently shown strong gains, trading near $513 with a 5% increase [4]. - The renewed interest in privacy-focused transactions coincides with the ETF proposal, reflecting ZEC's regained momentum [4][7]. Group 4: Operational Mechanics - The ETF aims for its share price to reflect the value of the trust's ZEC holdings, minus fees, using the ZCX index as a benchmark [6]. - New shares and redemptions will occur in blocks of 10,000, with cash orders managed by a liquidity provider [6]. - In-kind creations require regulatory approval, which is not yet granted [7].

Core Viewpoint - Grayscale Investments is seeking to convert its Zcash Trust into a U.S.-listed exchange-traded fund (ETF) to capitalize on the significant rise in Zcash's value, which has surged nearly 1,000% over the past year [1][4]. Group 1: ETF Development - The filing with the Securities and Exchange Commission represents Grayscale's effort to expand its ETF offerings into the privacy-coin sector [1][2]. - If approved, this would be the first U.S. ETF providing regulated exposure to Zcash, a cryptocurrency that utilizes zero-knowledge proofs for transaction privacy [2][3]. Group 2: Market Dynamics - Zcash's unique feature is its selective privacy through shielded transactions, which has become increasingly appealing to investors concerned about the traceability of Bitcoin and other transparent blockchains [3][4]. - The Zcash market has experienced significant volatility, with its price rising from approximately $40 to over $700 in a few weeks, before fluctuating around $450 [5][6]. Group 3: Institutional Interest - A Zcash ETF would lower the management premium associated with the current trust structure and facilitate easier trading through traditional brokerage accounts [4]. - This product could provide institutional investors with a regulated entry point into the privacy-coin market, which has faced challenges in attracting mainstream capital due to compliance issues [4]. Group 4: Regulatory Concerns - Concerns have been raised regarding the storage of Zcash on centralized exchanges, as it may compromise its privacy features, turning it into a traceable asset [6][7]. - The comments from BitMEX co-founder Arthur Hayes highlight ongoing issues related to self-custody and regulatory oversight in the context of privacy coins [7].

Core Insights - Zcash (ZEC) has experienced a significant price increase of 31% over the past week, contrasting with declines in major cryptocurrencies like Bitcoin and Ethereum [1][4] - Cypherpunk Technologies has expanded its Zcash holdings, purchasing an additional 29,869.29 ZEC for $18 million, bringing its total to 233,644.56 ZEC valued at over $146 million [2][5] Company Activities - Cypherpunk Technologies' total ZEC acquisition includes an initial purchase of 203,775.27 ZEC for $50 million, resulting in an average acquisition price of $291.04 per coin [2] - The firm has recently appointed Khing Oei and Will McEvoy to its board, enhancing its leadership with experienced investors [5] Market Performance - Zcash is currently trading at $626 per coin, reflecting a 125% increase over the last 30 days and a more than 15x rise since early September [3] - In contrast, Bitcoin has seen a decline of over 12% in the past week, dropping to a seven-month low of nearly $88,637 [4] Industry Trends - The surge in Zcash's price may be attributed to growing concerns about Bitcoin's transparency and increased interest from institutional investors, leading crypto enthusiasts to seek privacy-focused alternatives [6] - Zcash is positioned as "encrypted Bitcoin," appealing to those wary of on-chain surveillance [7]

Core Insights - Bitcoin billionaire Arthur Hayes advised investors to withdraw their Zcash holdings from centralized exchanges due to increased volatility in the privacy coin market [1][4] - Zcash, currently the 24th largest digital coin by market value, experienced significant price fluctuations, trading above $537 but dropping to as low as $430 earlier in the day, representing a 30% decline from its previous week's high [2] - Hayes' warning aligns with broader industry sentiment that holding funds on centralized exchanges poses risks due to potential hacking vulnerabilities [4] Market Performance - Zcash was trading at over $537, reflecting a more than 10% increase in the past 24 hours, but it is still approximately 30% below its high from the previous week [2] - The token's all-time high was recorded at $3,192 in 2016, indicating a significant decline from its peak value [2] Industry Context - As a privacy coin, Zcash utilizes zero-knowledge proofs to encrypt transaction information, allowing users to send and receive funds privately [5] - There is a historical caution against keeping privacy coins on centralized exchanges due to the risk of exposing personal information, which contradicts the privacy objectives of these coins [6] - The recent rally in Zcash was partly driven by concerns over the government's ability to track Bitcoin transactions, highlighting the demand for privacy-focused cryptocurrencies [6]

Cryptocurrency Market - Winklevoss twins launched the first ZEC DAT [1] - Expectation of higher MNAV and buy pressure for privacy coin DAT due to legal restrictions in many regions [1] - Anticipation of a ZEC ETF in the future [1] - Shielded/unshielded transactions seen as a catalyst for privacy on a global scale [1]

Market Trends - Privacy coin Zcash is experiencing a historic surge, approaching an 8-year high price [1]