Grayscale Explains the Reason for the Unstoppable Rise of the Most Talked-about Altcoin of Recent Days!

Bitcoin (BTC) and altcoins have been in a downtrend for the past few months and haven‘t been able to break free. The arrival of October and November, known as historically bullish months, didn’t help; on the contrary, October saw the biggest crash in recent years.

However, there are some altcoins that, instead of being negatively affected by this decline, continued their rise and positively diverged from the market.

One of these is undoubtedly Zcash (ZEC), the most talked-about altcoin of recent days. Grayscale, highlighting ZECs rise, analyzed the driving forces behind the rise in its latest report.

On this point, Grayscale noted that while the overall cryptocurrency market faced a decline in October, ZEC was a notable exception.

ZEC has been on an unstoppable rise over the past few months, and while the market was in a bloodbath in October, it gained 248% during the month, reaching a market capitalization of approximately $6.5 billion.

Zcash is a decentralized digital currency like Bitcoin, but includes optional privacy features through shielded accounts and transactions.

At this point, Grayscale stated that the demand for these features has increased significantly, which is reflected positively in the ZEC price.

Grayscale added that they expect ZEC and more institutional investment in this category, along with demand for privacy-related technologies, as public blockchains become more deeply integrated into mainstream finance.

Grayscale Backs Zcash (ZEC)!

Market experts, however, point out that Grayscale is the key driver behind ZECs rise, as Grayscale opened its Grayscale Zcash Trust to eligible accredited investors last month.

He noted that ZEC is similar in design to Bitcoin, but uses privacy technology that allows users to protect their assets.

In highlighting ZEC, Grayscale said the Trust is the only U.S. public fund offering exposure to the privacy-focused cryptocurrency through select brokerage accounts.