Monero Jumps on $23 Million Mystery Buy as Zcash Rally Cools
The post Monero Jumps on $23 Million Mystery Buy as Zcash Rally Cools appeared on BitcoinEthereumNews.com. Zcash (ZEC) fell by over 6% in the past 24 hours to $520.05 as traders booked profits on a multi-month rally. Meanwhile, Monero (XMR) climbed 11% to $396.75 after an unexplained $23 million on-chain purchase. The divergence has reopened a long-running debate over which privacy coin offers the stronger product. Zcash (ZEC) and Monero (XMR) Price Performance. Source: TradingView Capital appears to be rotating from ZEC’s institutional narrative back toward XMR’s default-privacy design. Zcash Cools After 56% Monthly Surge ZEC trades near $520 after touching highs above $640 earlier in May, a level it last visited in 2017. The token is still up almost 57% over the past 30 days and more than 900% year-on-year. Zcash (ZEC) Price Performance. Source: BeInCrypto The recent climb followed: A January decision by the U.S. Securities and Exchange Commission to close its probe into the Zcash Fo