ZEC or Z-Cash is a privacy coin that hides all transactions on the Blockchain and makes it one of the best options to keep a person's transactions private. Vitalik Buterin said a while ago on Twitter that he owned 1000 ZEC. But why is ZEC pumping right now? With the lack of privacy coins in the Crypto space it makes sense why ZEC is flourishing. It has a solid price per coin of $108 at the time of this writing. It has been banned from a Crypto Currency exchange and it Japan and France are planning to put Bans on privacy Crypto Currencies in the near future.
The banning of privacy coins not only ZEC show how powerful they are. They are getting a lot of press now. ZEC is the only privacy coin on CoinBase one of the largest Crypto Exchanges in North America and Europe. And it was recently added to Coinbase back in December of 2018.
People are more and more concerned about Privacy now. The fact that if you pay a friend or family member through BTC or ETH that they can just view your wallet address on a Block Explorer and see how much money you have in that particular wallet is concerning. If you have $10,000 of BTC you may not want others to know that.
Z-Cash has a conference coming up in 4 days. There will likely be some good announcements from Zcon in Croatia. That may also be the reason for the pump in price as well.
Facebook and other tech companies are letting people's information flow out into the open and security hacks happening. It makes sense that people are more and more concerned about their digital privacy. I'm guessing until BTC and other public Blockchains come forth and start offering privacy features we'll see good pump in ZEC, XMR (Monero), and Dash privacy coins.