As altcoins broadly rose, privacy tokens stood out — Zcash (+159% over the week) and Dash (+78%).
The surge began after Grayscale announced the launch of Zcash Trust. The vehicle is intended for accredited investors.
“Zcash is similar to bitcoin in its architecture. ZEC was created from the original code base of the first cryptocurrency, but it uses a privacy technology that encrypts transaction information and allows users to shield their assets,” the publication says.
The trust’s launch also lifted other privacy coins such as DASH and ZEN. The latter rose by 62% over seven days.
However, one of the segment’s flagships — Monero (XMR) — did not follow the broader mood, gaining a relatively modest 12% over the week.
The shutdown of the US government appears to have livened up the crypto market. At the time of writing, bitcoin had returned to $120,000 (+7% over the week), and Ethereum topped $4,400 (+10%).
Analysts confirmed “healthy dynamics” for bitcoin. Funding rates for the leading cryptocurrency on the largest exchanges pointed to this — they were neutral or negative while trading in the $110,000-120,000 range.
