zcash generated the 2nd highest protocol fees across all blockchains last week. a privacy coin everyone wrote off suddenly outearning every defi protocol except ethereum. ghostpay and hush wallet just launched native privacy on solana. ethereum foundation made privacy "first-class property" of the protocol. privacy infrastructure arriving exactly when treasurers realize transparent chains expose their strategies. zcash trading near multi-year lows generating top-tier fees is the inefficiency.
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