In my view, Zcash is in a bubble. If you look at its transaction chart, the recent surge isn’t driven by real demand, it’s just artificial hype created by a few groups trying to pump the price. In simple terms, there’s no real market demand; someone’s just pushing the “privacy meta” narrative to make Zcash look hot. Shielded transactions aren’t a big deal anymore. Lots of other chains and products already support similar privacy features, and many of them offer far more flexibility, like smart contracts. The truth is, these kinds of features are also the most likely to get delisted or restricted by regulators and governments. I think this Zcash hype won’t last long. Even the people shilling it probably bought early and are just waiting for the right moment to dump. They’re not using it for any real purpose.