Zcash Beats Monero and Shiba Inu (SHIB) in Market Cap, Litecoin Now Just $1 Billion Away

Zcash, or as it is better known, ZEC, just passed the meme coin Shiba Inu (SHIB) and another privacy project, Monero (XMR), in market capitalization, with its total figure rising to $6.22 billion, or about $382 per coin, after jumping 14.8% in 24 hours.

This shock to the crypto ranking puts ZEC in 21st place in the world, just below the $7.29 billion market of Litecoin with a price of $95 per LTC. Basically, another strong day for Zcash could turn the rankings again, pushing ZEC into the top 20 – probably for the first time.

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Of course, the demonstration did not happen in isolation. Most of this insane 800% run in a month can be attributed to figures like Helius CEO Mert Mumtaz and Naval Ravikant, who have renewed interest in a privacy coin that many had written off as a “dino” coin.

Going further with his Zcash shill, Mumtaz just today confirmed that ZEC light client integration will follow the rollout of SIMD-0388. This system update will allow BLS12-381 elliptic curve syscalls.

Solana + Zcash = ?

To put it simply, once this update is live, developers can build a “light client” – a lightweight connector that allows Solana to read and verify Zcash data without running a full Zcash node. This means that Solana applications will be able to verify Zcash transactions directly, opening a path for cross-chain privacy tools or exchanges between Solana and Zcash.

Interestingly, Solana Labs co-founder Anatoly Yakovenko also publicly congratulated the overtaking.

Within the Zcash community, the milestone of surpassing SHIB and XMR was received as a long-awaited victory. Sean Bowe, one of the project’s first engineers, called it “years in the making.”

Traders added fuel to the fire, noting that ZEC’s exchange float has decreased considerably since mid-year, leaving prices hypersensitive to new demand.

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Whether it’s a short-term change or the start of a permanent change, Zcash has made a comeback. Monero is now worth less than $200 million, and Litecoin is just shy of a billion.

If the current momentum continues through the next business cycle, the next reshuffle in the top 20 may be driven by a privacy coin.