As reported by Coindesk, Zcash (ZEC) has been one of the strongest performers of the year, outpacing major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) during the recent market downturn. However, transparent onchain data does not reflect a corresponding increase in user adoption. A growing share of Zcash activity now occurs within shielded pools, making it difficult to assess real user growth. The recent spike in daily transactions was largely driven by Zerdinals, an inscription wave, rather than broad user participation. Meanwhile, Monero (XMR), the dominant pure-privacy asset, has shown no parallel rise in activity, suggesting ZEC's rally is not part of a broader privacy coin trend.
ZEC's Rally Outpaces Onchain Data, Privacy Features Obscure Adoption Metrics
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