The DASH token is following in Zcash’s footsteps and is up 200% over the last month.
Despite the altcoin market’s woes, Zcash’s rally is driving the privacy token sector to new heights, and now DASH is tailing ZEC with a 156% surge over the last week.
Launched in 2014, DASH is one of the largest privacy-focused cryptocurrencies with a $1.4 billion market capitalization. The token features an optional privacy feature dubbed PrivateSend.
It has been following steadily behind sector leader Zcash, which has rallied more than 300% over the last month to $470, its highest price since 2018.
Meanwhile, DASH, which traded as low as $19 this summer, is up more than 5x over the last six months and is currently trading at $120, its highest price since 2022.
Despite the rally, DASH has some distance to go before it comes anywhere close to its previous all-time high of $1,500, set in December 2017 near the top of the ICO bubble.
While the exact catalyst behind Zcash and the broader privacy meta is unknown, some attribute its growth to a new focus on privacy and anonymity as Bitcoin and DeFi become increasingly institutionalized.
