Zcash (ZEC) has surpassed Stellar (XLM) to enter the top 20 cryptocurrencies by market capitalization, thanks to a price surge of over 1,100% over the past year.
Zcash, a privacy-focused cryptocurrency, has seen a surge in recent weeks, reaching a market capitalization of $9.41 billion (approximately KRW 12.5186 trillion). Stellar, on the other hand, has fallen to $8.88 billion (approximately KRW 11.8154 trillion). Zcash currently ranks 14th among all cryptocurrencies.
Zcash, a project forked from Bitcoin in 2016, is characterized by its ability to enable anonymous transactions using zero-knowledge proofs. Previously relatively obscure in the market, this cryptocurrency began a rally in late September, rising roughly tenfold in just over a month. The price, which was initially around $54 (approximately 72,000 won), soared to $748 (approximately 994,000 won).
Currently trading at $589 (approximately KRW 784,000) after a slight correction, it still represents a 41% increase from a week ago and a 1,172% increase year-over-year. This upward trend is interpreted as being driven by increased usage and a shift in awareness of privacy technology, rather than simple speculative buying. It is also noteworthy that it has surpassed Monero (XMR), the leading privacy coin, to become the largest privacy coin by market capitalization.
Meanwhile, Stellar (XLM) is demonstrating significant technological progress, including the growth of its developer ecosystem and the activation of smart contracts. As of Q3, the number of full-time developers increased by 70% quarter-on-quarter to 1,450, and the number of smart contract calls exceeded 1 million per day, reaching a total of 157 million. The ambassador program is also actively expanding in Latin America and the Asia-Pacific region.
However, despite this growth, the XLM price has only risen 175% since the beginning of the year, slowing market reflection. The industry is focusing on the possibility that XLM could enter a full-fledged upward phase if it breaks through $0.50 (approximately 660 won).
The surge in Zcash, reflecting trends in privacy and practical use, contrasts sharply with Stellar's focus on traditional infrastructure development. The market is watching to see which of these two projects' opposing strategies—technical prowess and use case expansion—will ultimately prove more effective.
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