Zcash rallies as privacy coins gain upside momentum.
Zcash is pretty safe from adverse regulations targeting private transactions.
Zcash is currently making higher lows, an indicator that bulls are firmly in control.
Zcash (ZEC), like the other privacy coins, has been rocketing over the last 24-hours. When going to press, Zcash was up by 10%.
Zcash is one of the most powerful privacy coins out there, thanks to its use of Zero-Knowledge Proof technology. Zk-SNARKs are a type of proof that can be used to show ownership without revealing information. One side uses it as evidence, and the other party believes them because they have zero-knowledge succinct noninteractive argumentative knowledge about what’s being proven.
Essentially when using Zcash, no one can trace a transaction through the blockchain. However, unlike Monero, Zcash has a feature that allows users to make non-private transactions. This feature puts Zcash at a lower risk of negative regulations than other privacy coins.
Zcash safe from upcoming U.S regulations
Crypto regulations are coming to the U.S, and one of the issues they intend to address is the use of cryptocurrencies for illicit activities. This means cryptocurrencies that can be used to shield transactions may face restrictions in the U.S.
Zcash is one of those that are pretty safe from these because it is designed for both private and non-private transactions. This means even if regulations trigger a delisting of privacy coins, as happened in Japan a while back, Zcash could be safe.
Zcash continues to make higher lows.
Source: TradingView
Like other privacy coins, Zcash has pumped in the last 24-hours. However, unlike the rest that is already showing weakness, Zcash is still strongly bullish. In the last 12-hours, Zcash has been making lower highs, as it continues trading in a bullish channel. If the current trend continues, Zcash could test $150 in the short term.
Summary
Zcash is rallying alongside the other privacy coins. Zcash has an advantage over other privacy coins if regulations in the U.S target private crypto transactions. That’s because it also allows for non-private transactions.
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