The recent price action of ZEC is indeed quite interesting.

While ETH and other major coins are still seesawing at the daily chart level, ZEC shot straight from the bottom to $749 in just 14 days—a gain of over 1200%. It's not that other coins are lacking, but behind this kind of independent rally there’s often a deeper shift in logic.

After looking through on-chain data and institutional moves, I found three noteworthy points:

**The Privacy Narrative is Brewing**
This year’s subtle changes in the regulatory environment have led the market to reassess the value of privacy technologies. As the earliest project to implement zero-knowledge proofs, ZEC has strong technical accumulation—it’s not just a whitepaper concept, but actually has a mature anonymous transaction solution running. Smart money can clearly see the difference between “usable” and “just a good story.”

**Institutional Holdings Are Concentrating**
Maelstrom Fund has listed ZEC in its core allocation pool (second only to BTC), and Arthur Hayes also publicly expressed a similar view recently. These veterans usually don’t chase pumps—they’re either positioning early or have spotted structural opportunities that retail hasn’t noticed yet.

Of course, a short-term gain of 1200% will inevitably face profit-taking pressure. But if the privacy sector continues to gain traction, the potential upside could be much larger than what the numbers suggest.