Zcash Leads Privacy Coin Surge With 37% Gains on MultiCoin Investment
Privacy coin Zcash surged by double digits over the past day, alongside the broader privacy coin category.Multicoin has built a 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 Californias 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 a Tuesday tweet thread by investment firm Multicoins 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. Why privacy coins are moving Multicoin framed the thesis around growing political risks to public wealth. “Californias proposed wealth seizures are a warning,” the firm wrote. “As the political trend to seize private wealth continues to grow, people and institutions will increasingly seek private assets to protect themselves.” offers censorship resistance; no one can freeze it or stop a user from transacting. That does not