Most fundamentally misunderstand the current price action of zec. The common perception is that we’re in a privacy meta, so go pump anything with zk tech. Privacy is important but that’s not why zec is ascendant.
Zcash is ascendant because the market now thinks it can be a complimentary money to Bitcoin, like Silver to Gold. Privacy is important to the narrative, but it’s just part of the story. Zcash also has:
* PoW consensus — provably the best for money
* A long painful history — important for solidifying the core community and memetics of money
* Compounding network effects — shielded zec is a +EV dynamic for HODLing
Once you see the bigger picture it’s easier to position ahead of the market and stay focused on the trade that matters
So after the crazy $ZEC run, degens out there are now pumping every random ecosystem with some kind of zk tech underneath?
Literally nothing is happening on zkSync, Mina Protocol, Scroll, Starknet, or any of the others, nor does anyone care about these chains.
It’s a pure narrative pump, just because another, completely unrelated asset performed well, and now everyone who missed that trade is desperate for the next play.
So much for “we won’t get another altseason where every shitcoin pumps and we see an obvious flight to quality amongst investors now.”
Nothing has changed lol. Just wait until we get a proper risk-on environment the next months and it’s going to feel like 2021 all over again.
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