This cat memecoin has paid holders $2.8 million in Zcash as ZEC tops $1,200
The ZCAT memecoin has distributed $2.8 million in Zcash to holders, benefiting from a surge in Zcash (ZEC) prices. The project leverages privacy-focused crypto trends and the popularity of memecoin trading platforms.
Why it matters
It illustrates the speculative nature of the memecoin market and the increasing integration of privacy coins into decentralized finance.
Anonymous Cat, or ZCAT, charges a 3% tax whenever the token is transferred. Most of that money is converted into zcash (ZEC) and distributed to wallets holding at least $20 worth of ZCAT, according to the project's dashboard.
ZCAT itself trades against ZEC through StonkFun, a Solana launchpad that lets newly created tokens use assets other than SOL or stablecoins as their trading pair.
About 2,320 ZEC, worth roughly $2.8 million as of Asian morning hours Monday, has been distributed across more than 470,000 payouts, the data show.
ZCAT has surged alongside it. The token traded around 13 cents Monday with a market value of about $124 million and roughly $22 million of trading volume over 24 hours. It briefly traded near 19 cents over the weekend before selling off sharply in early Monday trading.
The token exists because Zcash is having a moment.
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