This Naval Ravikant crypto favorite soars 150% this week
Breaking resistance levels dating back to June 2022, the privacy-oriented cryptocurrency Zcash (ZEC) has been one of the biggest surprises this week. Driven by strong technicals and notable ecosystem developments, such as the THORSwap debut, the asset has soared nearly 150% over the past seven days, trading at $147.89 at the time of writing. Zcash weekly price. Source: Finbold However, the rally also comes amid intensifying debates over financial surveillance and digital IDs, as evidenced by Google searches for “privacy coins” climbing to record highs. Seizing on the opportunity to boost the asset further, Naval Ravikant, a well-known entrepreneur, investor, and crypto enthusiast, stated in an October 1 post on X that Bitcoin (BTC) is insurance against fiat, while ZCash is, in turn, insurance against Bitcoin, alluding to ZEC’s role as a digital shield. Bitcoin is insurance against fiat. ZCash is insurance against Bitcoin. https://t.co/rqMrR3bW7O — ...