Zcash Leads Privacy Coin Surge With 37% Gains on MultiCoin Investment

The story

MultiCoin Capital disclosed a significant ZEC position, citing wealth seizure risks as a catalyst for private assets.

From the source

Price data by In brief Privacy coin Zcash surged by double digits over the past day, alongside the broader privacy coin category. Multicoin has built ZEC position since February, calling Zcash the "cleanest way" to express the privacy thesis. Dash also jumped as the privacy coin sector rallied on wealth tax fears and California s proposed asset seizures. Zcash led a surge in privacy-focused cryptocurrencies on Wednesday, jumping 37% in the past 24 hours after crypto investment firm Multicoin Capital disclosed that it had built a "significant position" in the privacy coin .

The rally follows Tuesday tweet thread by investment firm Multicoin Cofounder and Managing Partner Tushar Jain, calling Zcash a "return to the cypherpunk ideals crypto was founded on."

Privacy coins Dash and Monero added 22% and 4% on the day respectively, while the category as a whole has notched roughly 15% gains , according to CoinGecko data.

Who and what

Key names and topics in this story: Zcash Leads Privacy Coin, Surge With, Gains, MultiCoin Investment.

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