'Privacy Coin Zcash: The Encrypted Bitcoin' - Galaxy Analyzes the Surge

On the 4th, Galaxy Digital, a major US crypto asset (cryptocurrency) financial firm, released a report analyzing the reasons behind the rapid rise of Zcash (ZEC). Galaxy Digital analyst Will Owens pointed out that this privacy-focused cryptocurrency borrows fundamental elements from Bitcoin's (BTC) codebase. In a sense, it functions as a spiritual successor, he argued. Over the past month, ZEC has risen approximately 170%, and about 1,100% over the past year.