Recently, there is a phenomenon in the crypto market that is worth pondering: a certain privacy asset has risen from $35 to a peak of $750 in just three months, with an increase of 2200%. It has now fallen back to around $400.68, and many investors are starting to struggle with the question - has it peaked? Should they implement a stop loss?

In fact, this question is reversed. Rather than saying it is the end of the trend, it is better to understand it as the market is being repriced.

The logic of this pump has changed. In the past few years, ZEC had a very low presence in the market, just that "project for making privacy transactions", so marginal it was. But starting from August 2025, its narrative framework has been upgraded - evolving from a pure technical tool to a structural defensive asset. This is a qualitative change, not a quantitative change.

Why do I say that? Just look at the current market environment to understand. What is the biggest uncertainty facing the crypto ecosystem? Regulation. Many projects that claim to have privacy features either have technical flaws or cannot escape regulation at all, and a slight investigation will expose them. However, ZEC is different; it is currently a leading player in the compliant privacy sector. What does this mean? It means that institutional investors and large holders can meet their privacy trading needs while avoiding regulatory risks. This scarcity is the source of its premium.

A pullback is essentially a process of value reassessment. Dropping to $400 is not a bad thing; instead, it gives rational investors a better price for their chips. The focus is not on short-term fluctuations, but on whether the fundamental support of this asset is still there — and it clearly is.