A back-to-roots trade is emerging as market participants take notice of the privacy corners of the crypto ecosystem, bringing attention back to what dominated much of the 2017-18 bull market cycle.
Tokens in the sector are up 15% on average in the past 24 hours, CoinGecko data shows. Zcash (ZEC) is up more than 40%, bringing seven gains to over 85% in a run that has made it the best-performing large-cap token in the market.
ZEC’s performance is accompanied by upswings in dash (DASH), verge (XVG), decred (DCR) and tornado cash (TORN), which are up from 13-35% in the past 24 hours. Privacy smart contract system Railgun's RAIL token is up more than 117%, with one-week gains of over 300%. Volumes are climbing across the board, with ZEC alone turning over $1.1 billion in spot volumes the past