The core logic behind the recent rise of ZEC is: the market's growing concerns over on-chain transparency, government regulation, and AI tracking, which is forcing funds to refocus on privacy assets. Santiment pointed out that the strength of privacy coins like ZEC is not just a technical rebound, but a re-pricing of the long-term narrative of "privacy vs regulation." Due to ZEC's relatively thin liquidity, combined with sentiment and short squeeze effects, the increase has been particularly sharp. As for whether this rally is short-term speculation or the beginning of a new phase, there is still disagreement, but the phenomenon of capital flowing back indicates that the market's structural shift in privacy demand is being recognized. #Gate广场五月交易分享