Zcash Flips Monero, Soars To 8-Year High Despite Market Downturn

Some of the leading privacy coins are defying the gravity of the digital asset market, signaling growing investor demand for privacy-focused cryptocurrencies.

Zcash (ZEC) surged to an over eight-year high of $388 on Friday after rising 7.6% in the last 24 hours, according to data aggregator CoinMarketCap. With a $6.2 billion market capitalization at the time of writing, ZEC flipped Monero (XMR) to become the most valuable privacy-focused cryptocurrency.

ZEC’s 45% weekly rise bucked the broader crypto market downturn, which continued its consolidation…