Privacy Coins Surge as Multicoin Capital Builds Zcash Position

Zcash experienced a significant 37% increase within 24 hours following Multicoin Capital's announcement of establishing a substantial ZEC position since February. According to NS3.AI, Dash also saw a rise of 22%, and Monero gained 4%, contributing to an overall 15% increase in the privacy coin category, as reported by CoinGecko data. Multicoin Capital attributed this trading activity to growing demand for private assets, driven by concerns over potential wealth taxes and proposed asset seizures.