Zcash soars as people want privacy tokens again

Old-school, privacy-focused token Zcash (ZEC) is on a tear this month, up more than 250%. The rally has led to multiple heavyweights joining in on the conversation to promote ZEC (See here for Naval, here for Mert Mumtaz from Helius). Now this wouldn’t be the first time a lot of hype has surrounded privacy coins only for that hype to fizzle out… but regardless, if you feel privacy is a fundamental right, then it is worth a second look.

While we wonder if he got Jamie Dimon’s approval first, a JPMorgan analyst said Bitcoin is “significantly undervalued relative to gold”, implying upside toward $165,000. Unlike most pie-in-the-sky price projections, there’s actually some good reasoning. The analyst essentially asked “if investors treat bitcoin like a higher-octane version of gold, how big should it be?” Although BTC is ~1.85× more volatile, it doesn’t need to be as large as gold to play the same store-of-value role. So on that risk-adjusted yardstick, BTC’s market value would be about 40% higher than today. Read more →

According to DeFiLlama data, the total market cap of stablecoins has surpassed $300 billion for the first time in history. Tether (USDT) leads at $176.2 billion; Circle (USDC) chews up $74 billion; and the third-largest yield-bearing stablecoin, Ethena (USDe), stands at $14.83 billion. As it stands today, Tether and Circle make up ~85% of the stablecoin market cap, but Nic Carter argues that the stablecoin duopoly is soon ending as intermediaries begin to roll out their own. Read more →

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