Why is Zcash Surging? Analysts Break Down the ZEC Rally and What Comes Next

The Zcash Foundation announced the conclusion of an investigation by the U.S. Securities and Exchange Commission (SEC), which began with a subpoena regarding certain crypto asset offerings. This decision has led to a 12% increase in the price of Zcash's native token, ZEC, and a 39% surge in trading volume over the past 24 hours.

Monero (XMR) has surged past $700, reaching new record highs amid increasing demand for privacy-focused cryptocurrencies, despite tightening regulatory measures from governments worldwide. This price increase reflects a significant shift in market dynamics, with XMR now positioned among the top 15 cryptocurrencies by market capitalization.

Vitalik Buterin has raised concerns about the design flaws in decentralized stablecoins, highlighting issues such as benchmark risk and flaws in oracle design. This critique comes at a time when the cryptocurrency market is experiencing significant volatility, particularly affecting privacy coins like Zcash.

Dash's price surged by 125% as traders shifted their focus to privacy coins, particularly following governance issues faced by Zcash. This shift indicates a growing interest in privacy-focused cryptocurrencies amid a volatile market.

Monero's price has surged to new multi-month highs, trading around $690, reflecting a strong market interest in privacy-focused cryptocurrencies. This rally marks an 8% increase on the day, indicating a bullish market structure despite potential leverage-driven volatility.

Bitcoin has experienced a notable rise, reaching an intraday high of $93,500 for the third consecutive day, alongside significant increases in altcoins such as Dash and Monero, which surged by 55% and 20%, respectively.

Bitcoin's price surged to $93.5K following the release of the U.S. Consumer Price Index (CPI) data, which met market expectations, reversing a dip experienced earlier in the week. The rally was accompanied by significant gains in altcoins, with Monero reaching a new all-time high near $700.