Zcash (ZEC) &#273;ang tr&#7843;i qua tu&#7847;n &#273;&#7847;y bi&#7871;n &#273;&#7897;ng nh&#7845;t trong n&#259;m. T&#7915; m&#7913;c &#273;&#7881;nh g&#7847;n &#273;&acirc;y kho&#7843;ng 750 USD, coin n&agrave;y &#273;&atilde; gi&#7843;m h&#417;n 35%. D&ugrave; &#273;i&#7873;u ch&#7881;nh m&#7841;nh, nhi&#7873;u chuy&ecirc;n gia v&#7851;n l&#7841;c quan v&#7873; ZEC.
T&#7841;i sao h&#7885; tin r&#7857;ng &#273;&#7907;t &#273;i&#7873;u ch&#7881;nh n&agrave;y kh&ocirc;ng l&agrave;m tr&#7879;ch h&#432;&#7899;ng &#273;&#7907;t t&#259;ng gi&aacute; m&#7841;nh s&#7855;p t&#7899;i? D&#432;&#7899;i &#273;&acirc;y l&agrave; c&aacute;c chi ti&#7871;t quan tr&#7885;ng.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading">T&#7841;i sao ZEC c&oacute; th&#7875; b&#7853;t m&#7841;nh?</h2>

V&#7899;i vi&#7879;c t&#7853;p trung v&agrave;o quy&#7873;n ri&ecirc;ng t&#432;, ZEC kh&ocirc;ng ch&#7881; &#273;&#417;n thu&#7847;n l&agrave; m&#7897;t &#273;&#7891;ng ti&#7873;n m&atilde; h&oacute;a. Nhi&#7873;u nh&agrave; &#273;&#7847;u t&#432; xem n&oacute; nh&#432; m&#7897;t bi&#7875;u t&#432;&#7907;ng cho nhu c&#7847;u ng&agrave;y c&agrave;ng t&#259;ng v&#7873; an ninh v&agrave; b&#7843;o m&#7853;t trong kh&ocirc;ng gian ti&#7873;n &#273;i&#7879;n t&#7917;.
D&ugrave; gi&aacute; &#273;&atilde; gi&#7843;m m&#7841;nh, l&#432;&#7907;ng ZEC kh&oacute;a trong Zcash Shielded Pool &mdash; l&#7899;p b&#7843;o m&#7853;t c&#7889;t l&otilde;i c&#7911;a m&#7841;ng l&#432;&#7899;i &mdash; &#273;&atilde; t&#259;ng v&#7885;t. S&#7921; t&#259;ng tr&#432;&#7903;ng n&agrave;y ph&#7843;n &aacute;nh nhu c&#7847;u ng&agrave;y c&agrave;ng l&#7899;n cho c&aacute;c giao d&#7883;ch t&#7853;p trung v&agrave;o quy&#7873;n ri&ecirc;ng t&#432;.
Shielded Pools l&agrave; c&aacute;c c&#417; ch&#7871; trong Zcash cho ph&eacute;p th&#7921;c hi&#7879;n giao d&#7883;ch ri&ecirc;ng t&#432; v&agrave; &#7849;n danh.
<img style="height:400px;width:640px;" decoding="async" alt="Zcash Total Shielded Pool. Source: zkp.baby" class="wp-image-772460 lazy" loading="lazy" src="https://assets.beincrypto.com/img/N2MNKEas-Q_xLW5W1PZsn3PzXBk=/smart/37c3a325923f484eb9a3535da1bdcadf">Zcash Total Shielded Pool. Ngu&#7891;n: zkp.baby

D&#7919; li&#7879;u l&#7883;ch s&#7917; t&#7915; Zcash Total Shielded Pool cho th&#7845;y s&#7889; l&#432;&#7907;ng ZEC kh&oacute;a trong pool &#273;&atilde; t&#259;ng t&#7915; kho&#7843;ng 2,6 tri&#7879;u v&agrave;o cu&#7889;i th&aacute;ng 3 l&ecirc;n h&#417;n 4,1 tri&#7879;u v&agrave;o &#273;&#7847;u th&aacute;ng 11. &#272;&#432;&#7901;ng cong t&#259;ng tr&#432;&#7903;ng g&#7847;n &#273;&acirc;y g&#7847;n nh&#432; th&#7859;ng &#273;&#7913;ng.
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&ldquo;Shielded pool tr&ecirc;n Zcash v&#7873; c&#417; b&#7843;n l&agrave; g&#7847;n nh&#432; th&#7859;ng &#273;&#7913;ng. C&aacute;c thu&#7897;c t&iacute;nh b&#7843;o m&#7853;t &#273;ang c&#7843;i thi&#7879;n theo th&#7901;i gian th&#7921;c. S&#7921; chuy&#7875;n &#273;&#7893;i &#273;&#7847;u c&#417; th&agrave;nh c&aacute;c thu&#7897;c t&iacute;nh b&#7843;o m&#7853;t m&#7841;nh m&#7869; h&#417;n trong m&#7897;t v&ograve;ng l&#7863;p ph&#7843;n &aacute;nh l&agrave; m&#7897;t trong nh&#7919;ng &#273;i&#7873;u &#273;&aacute;ng kinh ng&#7841;c nh&#7845;t t&ocirc;i t&#7915;ng th&#7845;y trong ti&#7873;n &#273;i&#7879;n t&#7917;,&rdquo; Mert, CEO c&#7911;a Helius Labs, <a href="https://x.com/0xMert_/status/1976730020690239669" target="_blank" rel="noreferrer noopener nofollow">n&oacute;i</a>.
</blockquote>

M&#7897;t <a href="https://x.com/a16zcrypto/status/1988305640964657421" target="_blank" rel="noreferrer noopener nofollow">b&aacute;o c&aacute;o</a> m&#7899;i t&#7915; a16z Crypto, m&#7897;t qu&#7929; &#273;&#7847;u t&#432; m&#7841;o hi&#7875;m h&agrave;ng &#273;&#7847;u trong ng&agrave;nh blockchain, c&#361;ng nh&#7845;n m&#7841;nh r&#7857;ng c&aacute;c m&#7889;i quan t&acirc;m v&#7873; quy&#7873;n ri&ecirc;ng t&#432; &#273;ang tr&#7903; n&ecirc;n c&#7845;p b&aacute;ch h&#417;n bao gi&#7901; h&#7871;t khi vi&#7879;c ch&#7845;p nh&#7853;n ti&#7873;n &#273;i&#7879;n t&#7917; m&#7903; r&#7897;ng trong ng&#432;&#7901;i d&ugrave;ng ph&#7893; th&ocirc;ng.
<img style="height:400px;width:640px;" decoding="async" alt="a16z Crypto's Report on Privacy Narrative. Source: a16z" class="wp-image-772459 lazy" loading="lazy" src="https://assets.beincrypto.com/img/8JTEgbYHF4CeA7wb_QUn0Cok8x8=/smart/2a361babf196470da769527a8acdd96e">B&aacute;o c&aacute;o c&#7911;a a16z Crypto v&#7873; quy&#7873;n ri&ecirc;ng t&#432;. Ngu&#7891;n: <a href="https://x.com/a16zcrypto/status/1988305640964657421" target="_blank" rel="noreferrer noopener nofollow">a16z</a>

a16z &#273;&atilde; n&ecirc;u b&#7853;t m&#7897;t s&#7889; y&#7871;u t&#7889; ch&iacute;nh:
<ul class="bic-gutenberg-list wp-list list-disc ">
<li>C&aacute;c t&igrave;m ki&#7871;m tr&ecirc;n Google cho c&aacute;c t&#7915; kh&oacute;a nh&#432; crypto privacy, blockchain privacy, v&agrave; financial privacy &#273;&atilde; t&#259;ng v&#7885;t v&agrave;o n&#259;m 2025.</li>

<li>Giao th&#7913;c <a href="https://beincrypto.com/learn/railgun-defi-explainer/" target="_blank" rel="noreferrer noopener">Railgun</a>, gi&uacute;p &#7849;n &#273;&#432;&#7901;ng truy&#7873;n giao d&#7883;ch, &#273;&atilde; <a href="https://vn.beincrypto.com/railgun-rail-price-surges-all-time-high/" target="_blank" rel="noreferrer noopener">t&#259;ng tr&#432;&#7903;ng nhanh ch&oacute;ng</a> v&#7873; d&ograve;ng ti&#7873;n v&#7889;n trong hai n&#259;m qua.</li>

<li>B&#7897; T&agrave;i ch&iacute;nh Hoa K&#7923; &#273;&atilde; <a href="https://vn.beincrypto.com/ethereum-foundation-launches-joint-initiative-to-fund-tornado-cash-legal-defense/" target="_blank" rel="noreferrer noopener">d&#7905; b&#7887; c&aacute;c l&#7879;nh tr&#7915;ng ph&#7841;t &#273;&#7889;i v&#7899;i Tornado Cash</a>, th&#7875; hi&#7879;n m&#7897;t th&aacute;i &#273;&#7897; nh&#7865; nh&agrave;ng h&#417;n v&#7873; m&#7863;t qu&#7843;n l&yacute; &#273;&#7889;i v&#7899;i c&aacute;c giao th&#7913;c b&#7843;o m&#7853;t.</li>
</ul>

Omid Malekan, gi&aacute;o s&#432; t&#7841;i Tr&#432;&#7901;ng Kinh doanh Columbia v&agrave; chuy&ecirc;n gia v&#7873; ti&#7873;n &#273;i&#7879;n t&#7917;, cho r&#7857;ng l&#297;nh v&#7921;c n&agrave;y &#273;&atilde; qu&aacute; l&acirc;u kh&ocirc;ng &#273;&#432;&#7907;c ch&uacute; &yacute; &#273;&#7871;n quy&#7873;n ri&ecirc;ng t&#432;.
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&ldquo;Khi nh&#7855;c &#273;&#7871;n nh&#7919;ng ng&#432;&#7901;i b&#7841;n v&#7873; nh&agrave;, t&ocirc;i ngh&#297; r&#7857;ng s&#7921; b&ugrave;ng n&#7893; c&#7911;a Zcash l&agrave; &#273;i&#7873;u m&agrave; m&#7885;i ng&#432;&#7901;i trong ti&#7873;n &#273;i&#7879;n t&#7917; n&ecirc;n vui m&#7915;ng, b&#7845;t k&#7875; m&#7913;c &#273;&#7897; t&agrave;i ch&iacute;nh c&aacute; nh&acirc;n hay coin n&agrave;y s&#7869; &#273;i v&#7873; &#273;&acirc;u,&rdquo; Omid Malekan <a href="https://x.com/malekanoms/status/1988281184925913161" target="_blank" rel="noreferrer noopener nofollow">n&oacute;i</a>.
</blockquote>

Arthur Hayes, &#273;&#7891;ng s&aacute;ng l&#7853;p BitMEX, <a href="https://x.com/CryptoHayes/status/1988479315680297415" target="_blank" rel="noreferrer noopener nofollow">c&#361;ng khuy&#7871;n c&aacute;o</a> c&aacute;c ch&#7911; s&#7903; h&#7919;u n&ecirc;n <a href="https://beincrypto.com/learn/buy-zcash/" target="_blank" rel="noreferrer noopener">r&uacute;t ZEC kh&#7887;i c&aacute;c s&agrave;n giao d&#7883;ch t&#7853;p trung</a> v&agrave; t&#7921; qu&#7843;n l&yacute; t&agrave;i s&#7843;n c&#7911;a m&igrave;nh.
S&#7921; l&#7841;c quan c&#7911;a nh&#7919;ng nh&acirc;n v&#7853;t trong ng&agrave;nh n&agrave;y kh&ocirc;ng ch&#7881; d&#7915;ng l&#7841;i &#7903; vi&#7879;c gi&aacute; c&#7843; ng&#7855;n h&#7841;n. Quan &#273;i&#7875;m c&#7911;a h&#7885; c&oacute; th&#7875; &#7843;nh h&#432;&#7903;ng &#273;&#7871;n c&aacute;c nh&agrave; &#273;&#7847;u t&#432; nh&#7887; l&#7867;, c&oacute; kh&#7843; n&#259;ng gi&uacute;p ZEC ph&#7909;c h&#7891;i.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading">ZEC s&#7869; ti&#7871;p t&#7909;c l&ecirc;n gi&aacute;?</h2>

Nhi&#7873;u nh&agrave; ph&acirc;n t&iacute;ch cho r&#7857;ng s&#7921; &#273;i&#7873;u ch&#7881;nh g&#7847;n &#273;&acirc;y c&#7911;a ZEC l&agrave; t&#7921; nhi&ecirc;n v&agrave; l&agrave;nh m&#7841;nh, thay v&igrave; d&#7845;u hi&#7879;u c&#7911;a s&#7921; y&#7871;u &#7899;t.
M&#7897;t s&#7889; chuy&ecirc;n gia v&#7851;n k&#7923; v&#7885;ng ZEC c&oacute; th&#7875; &#273;&#7841;t gi&aacute; tr&#7883; cao &#273;&#7871;n <a href="https://vn.beincrypto.com/arthur-hayes-10000-zec-call-zcash-price/" target="_blank" rel="noreferrer noopener">10,000 USD trong t&#432;&#417;ng lai</a>. H&#7885; l&#7853;p lu&#7853;n r&#7857;ng nh&#7919;ng &#273;&#7907;t &#273;i&#7873;u ch&#7881;nh nh&#432; th&#7871; n&agrave;y l&agrave; c&#7847;n thi&#7871;t &#273;&#7875; c&acirc;n b&#7857;ng t&acirc;m l&yacute; th&#7883; tr&#432;&#7901;ng v&agrave; duy tr&igrave; m&#7897;t th&#7883; tr&#432;&#7901;ng t&#259;ng kh&#7887;e m&#7841;nh.
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&ldquo;Zcash s&#7869; &#273;&#7841;t 10,000 USD, v&#7899;i m&#7897;t s&#7889; giai &#273;o&#7841;n &#273;i&#7873;u ch&#7881;nh l&#7841;i, &#273;i&#7873;u n&agrave;y l&agrave; b&igrave;nh th&#432;&#7901;ng v&agrave; l&agrave;nh m&#7841;nh,&rdquo; nh&agrave; &#273;&#7847;u t&#432; Yoshi <a href="https://x.com/yoshi_v1/status/1988244032980504933" target="_blank" rel="noreferrer noopener nofollow">n&oacute;i</a>.
</blockquote>

Khi xem x&eacute;t k&#7929; d&#7919; li&#7879;u Shielded Pool cho th&#7845;y c&oacute; s&#7921; gi&#7843;m nh&#7865; trong v&agrave;i ng&agrave;y qua. Tuy nhi&ecirc;n, s&#7921; &#273;i&#7873;u ch&#7881;nh n&agrave;y kh&ocirc;ng g&acirc;y ng&#7841;c nhi&ecirc;n, v&igrave; nhi&#7873;u c&aacute; voi &#273;ang n&#7855;m gi&#7919; l&#7907;i nhu&#7853;n v&#432;&#7907;t qu&aacute; 1,000%.
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&ldquo;&#272;&#7897;ng th&aacute;i l&agrave;nh m&#7841;nh, theo t&ocirc;i &mdash; nhi&#7873;u c&aacute; voi &#273;ang c&oacute; s&#7913;c mua t&#259;ng h&#417;n 1,000%, v&agrave; h&#7885; c&oacute; th&#7875; mu&#7889;n ch&#7889;t l&#7901;i m&#7897;t ph&#7847;n ho&#7863;c chuy&#7875;n &#273;&#7893;i m&#7897;t ph&#7847;n sang t&agrave;i s&#7843;n kh&aacute;c,&rdquo; nh&agrave; ph&acirc;n t&iacute;ch Vini Barbosa <a href="https://x.com/vinibarbosabr/status/1988236570801983809" target="_blank" rel="noreferrer noopener nofollow">gi&#7843;i th&iacute;ch</a>.
</blockquote>
 
Th&ecirc;m v&agrave;o &#273;&oacute;, t&#7927; l&#7879; l&#7841;m ph&aacute;t th&#7845;p h&#417;n c&#7911;a ZEC &mdash; nh&#7901; c&#417; ch&#7871; gi&#7843;m m&#7897;t n&#7917;a t&#432;&#417;ng t&#7921; nh&#432; Bitcoin &mdash; k&#7871;t h&#7907;p v&#7899;i nh&#7853;n th&#7913;c ng&agrave;y c&agrave;ng t&#259;ng v&#7873; quy&#7873;n ri&ecirc;ng t&#432;, t&#7841;o ra m&#7897;t n&#7873;n t&#7843;ng v&#7919;ng ch&#7855;c. C&aacute;c nh&agrave; ph&acirc;n t&iacute;ch tin r&#7857;ng nh&#7919;ng y&#7871;u t&#7889; n&agrave;y &#273;&#7863;t ZEC v&agrave;o m&#7897;t xu h&#432;&#7899;ng t&#259;ng d&agrave;i h&#7841;n.
<img style="height:400px;width:640px;" decoding="async" alt="L&#7841;m ph&aacute;t Zcash. Ngu&#7891;n: zooko" class="wp-image-772461 lazy" loading="lazy" src="https://assets.beincrypto.com/img/a8Vb6WHdkxI3MqjtKwsetegeoac=/smart/cfb9ccc2373e4196b3d72a199b682fe4">L&#7841;m ph&aacute;t Zcash. Ngu&#7891;n: <a href="https://x.com/zooko/status/1988390542775107694" target="_blank" rel="noreferrer noopener nofollow">zooko</a>

C&acirc;u chuy&#7879;n t&#259;ng gi&aacute; c&#7911;a ZEC c&#361;ng <a href="https://vn.beincrypto.com/from-zcash-to-coti-low-cap-privacy-altcoins/" target="_blank" rel="noreferrer noopener">truy&#7873;n c&#7843;m h&#7913;ng cho m&#7897;t l&agrave;n s&oacute;ng t&#259;ng gi&aacute; m&#7899;i trong c&aacute;c &#273;&#7891;ng altcoin ch&#7911; &#273;&#7873; quy&#7873;n ri&ecirc;ng t&#432; nh&#7887; h&#417;n</a>. C&aacute;c chuy&ecirc;n gia d&#7921; &#273;o&aacute;n r&#7857;ng c&aacute;c altcoin t&#7853;p trung v&agrave;o quy&#7873;n ri&ecirc;ng t&#432; c&oacute; th&#7875; s&#7899;m thu h&uacute;t s&#7921; ch&uacute; &yacute; t&#7915; c&aacute;c t&#7893; ch&#7913;c. Th&#7853;m ch&iacute; c&oacute; th&#7875; &#273;&#432;&#7907;c bao g&#7891;m trong c&aacute;c Digital Asset Trusts (DATs), trong &#273;&oacute; c&oacute; th&#7875; &#273;&oacute;ng vai tr&ograve; nh&#432; &ldquo;<a href="https://x.com/0xMert_/status/1988208842141036948" target="_blank" rel="noreferrer noopener nofollow">ng&#7921;a Troia</a>&rdquo; &#273;&#432;a v&#7889;n m&#7899;i v&agrave;o th&#7883; tr&#432;&#7901;ng.

Zcash (ZEC) giảm hơn 35% trong tháng 11 — Tại sao các chuyên gia vẫn lạc quan

Zcash (ZEC) &#273;ang tr&#7843;i qua tu&#7847;n &#273;&#7847;y bi&#7871;n &#273;&#7897;ng nh&#7845;t trong n&#259;m. T&#7915; m&#7913;c &#273;&#7881;nh g&#7847;n &#273;&acirc;y kho&#7843;ng 750 USD, coin n&agrave;y &#273;&atilde; gi&#7843;m h&#417;n 35%. D&ugrave; &#273;i&#7873;u ch&#7881;nh m&#7841;nh, nhi&#7873;u chuy&ecirc;n gia v&#7851;n l&#7841;c quan v&#7873; ZEC.
T&#7841;i sao h&#7885; tin r&#7857;ng &#273;&#7907;t &#273;i&#7873;u ch&#7881;nh n&agrave;y kh&ocirc;ng l&agrave;m tr&#7879;ch h&#432;&#7899;ng &#273;&#7907;t t&#259;ng gi&aacute; m&#7841;nh s&#7855;p t&#7899;i? D&#432;&#7899;i &#273;&acirc;y l&agrave; c&aacute;c chi ti&#7871;t quan tr&#7885;ng.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading">T&#7841;i sao ZEC c&oacute; th&#7875; b&#7853;t m&#7841;nh?</h2>

V&#7899;i vi&#7879;c t&#7853;p trung v&agrave;o quy&#7873;n ri&ecirc;ng t&#432;, ZEC kh&ocirc;ng ch&#7881; &#273;&#417;n thu&#7847;n l&agrave; m&#7897;t &#273;&#7891;ng ti&#7873;n m&atilde; h&oacute;a. Nhi&#7873;u nh&agrave; &#273;&#7847;u t&#432; xem n&oacute; nh&#432; m&#7897;t bi&#7875;u t&#432;&#7907;ng cho nhu c&#7847;u ng&agrave;y c&agrave;ng t&#259;ng v&#7873; an ninh v&agrave; b&#7843;o m&#7853;t trong kh&ocirc;ng gian ti&#7873;n &#273;i&#7879;n t&#7917;.
D&ugrave; gi&aacute; &#273;&atilde; gi&#7843;m m&#7841;nh, l&#432;&#7907;ng ZEC kh&oacute;a trong Zcash Shielded Pool &mdash; l&#7899;p b&#7843;o m&#7853;t c&#7889;t l&otilde;i c&#7911;a m&#7841;ng l&#432;&#7899;i &mdash; &#273;&atilde; t&#259;ng v&#7885;t. S&#7921; t&#259;ng tr&#432;&#7903;ng n&agrave;y ph&#7843;n &aacute;nh nhu c&#7847;u ng&agrave;y c&agrave;ng l&#7899;n cho c&aacute;c giao d&#7883;ch t&#7853;p trung v&agrave;o quy&#7873;n ri&ecirc;ng t&#432;.
Shielded Pools l&agrave; c&aacute;c c&#417; ch&#7871; trong Zcash cho ph&eacute;p th&#7921;c hi&#7879;n giao d&#7883;ch ri&ecirc;ng t&#432; v&agrave; &#7849;n danh.
<img style="height:400px;width:640px;"decoding="async" alt="Zcash Total Shielded Pool. Source: zkp.baby" class="wp-image-772460 lazy" loading="lazy" src="https://assets.beincrypto.com/img/N2MNKEas-Q_xLW5W1PZsn3PzXBk=/smart/37c3a325923f484eb9a3535da1bdcadf">Zcash Total Shielded Pool. Ngu&#7891;n: zkp.baby

D&#7919; li&#7879;u l&#7883;ch s&#7917; t&#7915; Zcash Total Shielded Pool cho th&#7845;y s&#7889; l&#432;&#7907;ng ZEC kh&oacute;a trong pool &#273;&atilde; t&#259;ng t&#7915; kho&#7843;ng 2,6 tri&#7879;u v&agrave;o cu&#7889;i th&aacute;ng 3 l&ecirc;n h&#417;n 4,1 tri&#7879;u v&agrave;o &#273;&#7847;u th&aacute;ng 11. &#272;&#432;&#7901;ng cong t&#259;ng tr&#432;&#7903;ng g&#7847;n &#273;&acirc;y g&#7847;n nh&#432; th&#7859;ng &#273;&#7913;ng.
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&ldquo;Shielded pool tr&ecirc;n Zcash v&#7873; c&#417; b&#7843;n l&agrave; g&#7847;n nh&#432; th&#7859;ng &#273;&#7913;ng. C&aacute;c thu&#7897;c t&iacute;nh b&#7843;o m&#7853;t &#273;ang c&#7843;i thi&#7879;n theo th&#7901;i gian th&#7921;c. S&#7921; chuy&#7875;n &#273;&#7893;i &#273;&#7847;u c&#417; th&agrave;nh c&aacute;c thu&#7897;c t&iacute;nh b&#7843;o m&#7853;t m&#7841;nh m&#7869; h&#417;n trong m&#7897;t v&ograve;ng l&#7863;p ph&#7843;n &aacute;nh l&agrave; m&#7897;t trong nh&#7919;ng &#273;i&#7873;u &#273;&aacute;ng kinh ng&#7841;c nh&#7845;t t&ocirc;i t&#7915;ng th&#7845;y trong ti&#7873;n &#273;i&#7879;n t&#7917;,&rdquo; Mert, CEO c&#7911;a Helius Labs, <a href="https://x.com/0xMert_/status/1976730020690239669" target="_blank" rel="noreferrer noopener nofollow">n&oacute;i</a>.
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M&#7897;t <a href="https://x.com/a16zcrypto/status/1988305640964657421" target="_blank" rel="noreferrer noopener nofollow">b&aacute;o c&aacute;o</a> m&#7899;i t&#7915; a16z Crypto, m&#7897;t qu&#7929; &#273;&#7847;u t&#432; m&#7841;o hi&#7875;m h&agrave;ng &#273;&#7847;u trong ng&agrave;nh blockchain, c&#361;ng nh&#7845;n m&#7841;nh r&#7857;ng c&aacute;c m&#7889;i quan t&acirc;m v&#7873; quy&#7873;n ri&ecirc;ng t&#432; &#273;ang tr&#7903; n&ecirc;n c&#7845;p b&aacute;ch h&#417;n bao gi&#7901; h&#7871;t khi vi&#7879;c ch&#7845;p nh&#7853;n ti&#7873;n &#273;i&#7879;n t&#7917; m&#7903; r&#7897;ng trong ng&#432;&#7901;i d&ugrave;ng ph&#7893; th&ocirc;ng.
<img style="height:400px;width:640px;"decoding="async" alt="a16z Crypto's Report on Privacy Narrative. Source: a16z" class="wp-image-772459 lazy" loading="lazy" src="https://assets.beincrypto.com/img/8JTEgbYHF4CeA7wb_QUn0Cok8x8=/smart/2a361babf196470da769527a8acdd96e">B&aacute;o c&aacute;o c&#7911;a a16z Crypto v&#7873; quy&#7873;n ri&ecirc;ng t&#432;. Ngu&#7891;n: <a href="https://x.com/a16zcrypto/status/1988305640964657421" target="_blank" rel="noreferrer noopener nofollow">a16z</a>

a16z &#273;&atilde; n&ecirc;u b&#7853;t m&#7897;t s&#7889; y&#7871;u t&#7889; ch&iacute;nh:
<ul class="bic-gutenberg-list wp-list list-disc ">
<li>C&aacute;c t&igrave;m ki&#7871;m tr&ecirc;n Google cho c&aacute;c t&#7915; kh&oacute;a nh&#432; crypto privacy, blockchain privacy, v&agrave; financial privacy &#273;&atilde; t&#259;ng v&#7885;t v&agrave;o n&#259;m 2025.</li>

<li>Giao th&#7913;c <a href="https://beincrypto.com/learn/railgun-defi-explainer/" target="_blank" rel="noreferrer noopener">Railgun</a>, gi&uacute;p &#7849;n &#273;&#432;&#7901;ng truy&#7873;n giao d&#7883;ch, &#273;&atilde; <a href="https://vn.beincrypto.com/railgun-rail-price-surges-all-time-high/" target="_blank" rel="noreferrer noopener">t&#259;ng tr&#432;&#7903;ng nhanh ch&oacute;ng</a> v&#7873; d&ograve;ng ti&#7873;n v&#7889;n trong hai n&#259;m qua.</li>

<li>B&#7897; T&agrave;i ch&iacute;nh Hoa K&#7923; &#273;&atilde; <a href="https://vn.beincrypto.com/ethereum-foundation-launches-joint-initiative-to-fund-tornado-cash-legal-defense/" target="_blank" rel="noreferrer noopener">d&#7905; b&#7887; c&aacute;c l&#7879;nh tr&#7915;ng ph&#7841;t &#273;&#7889;i v&#7899;i Tornado Cash</a>, th&#7875; hi&#7879;n m&#7897;t th&aacute;i &#273;&#7897; nh&#7865; nh&agrave;ng h&#417;n v&#7873; m&#7863;t qu&#7843;n l&yacute; &#273;&#7889;i v&#7899;i c&aacute;c giao th&#7913;c b&#7843;o m&#7853;t.</li>
</ul>

Omid Malekan, gi&aacute;o s&#432; t&#7841;i Tr&#432;&#7901;ng Kinh doanh Columbia v&agrave; chuy&ecirc;n gia v&#7873; ti&#7873;n &#273;i&#7879;n t&#7917;, cho r&#7857;ng l&#297;nh v&#7921;c n&agrave;y &#273;&atilde; qu&aacute; l&acirc;u kh&ocirc;ng &#273;&#432;&#7907;c ch&uacute; &yacute; &#273;&#7871;n quy&#7873;n ri&ecirc;ng t&#432;.
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&ldquo;Khi nh&#7855;c &#273;&#7871;n nh&#7919;ng ng&#432;&#7901;i b&#7841;n v&#7873; nh&agrave;, t&ocirc;i ngh&#297; r&#7857;ng s&#7921; b&ugrave;ng n&#7893; c&#7911;a Zcash l&agrave; &#273;i&#7873;u m&agrave; m&#7885;i ng&#432;&#7901;i trong ti&#7873;n &#273;i&#7879;n t&#7917; n&ecirc;n vui m&#7915;ng, b&#7845;t k&#7875; m&#7913;c &#273;&#7897; t&agrave;i ch&iacute;nh c&aacute; nh&acirc;n hay coin n&agrave;y s&#7869; &#273;i v&#7873; &#273;&acirc;u,&rdquo; Omid Malekan <a href="https://x.com/malekanoms/status/1988281184925913161" target="_blank" rel="noreferrer noopener nofollow">n&oacute;i</a>.
</blockquote>

Arthur Hayes, &#273;&#7891;ng s&aacute;ng l&#7853;p BitMEX, <a href="https://x.com/CryptoHayes/status/1988479315680297415" target="_blank" rel="noreferrer noopener nofollow">c&#361;ng khuy&#7871;n c&aacute;o</a> c&aacute;c ch&#7911; s&#7903; h&#7919;u n&ecirc;n <a href="https://beincrypto.com/learn/buy-zcash/" target="_blank" rel="noreferrer noopener">r&uacute;t ZEC kh&#7887;i c&aacute;c s&agrave;n giao d&#7883;ch t&#7853;p trung</a> v&agrave; t&#7921; qu&#7843;n l&yacute; t&agrave;i s&#7843;n c&#7911;a m&igrave;nh.
S&#7921; l&#7841;c quan c&#7911;a nh&#7919;ng nh&acirc;n v&#7853;t trong ng&agrave;nh n&agrave;y kh&ocirc;ng ch&#7881; d&#7915;ng l&#7841;i &#7903; vi&#7879;c gi&aacute; c&#7843; ng&#7855;n h&#7841;n. Quan &#273;i&#7875;m c&#7911;a h&#7885; c&oacute; th&#7875; &#7843;nh h&#432;&#7903;ng &#273;&#7871;n c&aacute;c nh&agrave; &#273;&#7847;u t&#432; nh&#7887; l&#7867;, c&oacute; kh&#7843; n&#259;ng gi&uacute;p ZEC ph&#7909;c h&#7891;i.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading">ZEC s&#7869; ti&#7871;p t&#7909;c l&ecirc;n gi&aacute;?</h2>

Nhi&#7873;u nh&agrave; ph&acirc;n t&iacute;ch cho r&#7857;ng s&#7921; &#273;i&#7873;u ch&#7881;nh g&#7847;n &#273;&acirc;y c&#7911;a ZEC l&agrave; t&#7921; nhi&ecirc;n v&agrave; l&agrave;nh m&#7841;nh, thay v&igrave; d&#7845;u hi&#7879;u c&#7911;a s&#7921; y&#7871;u &#7899;t.
M&#7897;t s&#7889; chuy&ecirc;n gia v&#7851;n k&#7923; v&#7885;ng ZEC c&oacute; th&#7875; &#273;&#7841;t gi&aacute; tr&#7883; cao &#273;&#7871;n <a href="https://vn.beincrypto.com/arthur-hayes-10000-zec-call-zcash-price/" target="_blank" rel="noreferrer noopener">10,000 USD trong t&#432;&#417;ng lai</a>. H&#7885; l&#7853;p lu&#7853;n r&#7857;ng nh&#7919;ng &#273;&#7907;t &#273;i&#7873;u ch&#7881;nh nh&#432; th&#7871; n&agrave;y l&agrave; c&#7847;n thi&#7871;t &#273;&#7875; c&acirc;n b&#7857;ng t&acirc;m l&yacute; th&#7883; tr&#432;&#7901;ng v&agrave; duy tr&igrave; m&#7897;t th&#7883; tr&#432;&#7901;ng t&#259;ng kh&#7887;e m&#7841;nh.
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&ldquo;Zcash s&#7869; &#273;&#7841;t 10,000 USD, v&#7899;i m&#7897;t s&#7889; giai &#273;o&#7841;n &#273;i&#7873;u ch&#7881;nh l&#7841;i, &#273;i&#7873;u n&agrave;y l&agrave; b&igrave;nh th&#432;&#7901;ng v&agrave; l&agrave;nh m&#7841;nh,&rdquo; nh&agrave; &#273;&#7847;u t&#432; Yoshi <a href="https://x.com/yoshi_v1/status/1988244032980504933" target="_blank" rel="noreferrer noopener nofollow">n&oacute;i</a>.
</blockquote>

Khi xem x&eacute;t k&#7929; d&#7919; li&#7879;u Shielded Pool cho th&#7845;y c&oacute; s&#7921; gi&#7843;m nh&#7865; trong v&agrave;i ng&agrave;y qua. Tuy nhi&ecirc;n, s&#7921; &#273;i&#7873;u ch&#7881;nh n&agrave;y kh&ocirc;ng g&acirc;y ng&#7841;c nhi&ecirc;n, v&igrave; nhi&#7873;u c&aacute; voi &#273;ang n&#7855;m gi&#7919; l&#7907;i nhu&#7853;n v&#432;&#7907;t qu&aacute; 1,000%.
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&ldquo;&#272;&#7897;ng th&aacute;i l&agrave;nh m&#7841;nh, theo t&ocirc;i &mdash; nhi&#7873;u c&aacute; voi &#273;ang c&oacute; s&#7913;c mua t&#259;ng h&#417;n 1,000%, v&agrave; h&#7885; c&oacute; th&#7875; mu&#7889;n ch&#7889;t l&#7901;i m&#7897;t ph&#7847;n ho&#7863;c chuy&#7875;n &#273;&#7893;i m&#7897;t ph&#7847;n sang t&agrave;i s&#7843;n kh&aacute;c,&rdquo; nh&agrave; ph&acirc;n t&iacute;ch Vini Barbosa <a href="https://x.com/vinibarbosabr/status/1988236570801983809" target="_blank" rel="noreferrer noopener nofollow">gi&#7843;i th&iacute;ch</a>.
</blockquote>
 
Th&ecirc;m v&agrave;o &#273;&oacute;, t&#7927; l&#7879; l&#7841;m ph&aacute;t th&#7845;p h&#417;n c&#7911;a ZEC &mdash; nh&#7901; c&#417; ch&#7871; gi&#7843;m m&#7897;t n&#7917;a t&#432;&#417;ng t&#7921; nh&#432; Bitcoin &mdash; k&#7871;t h&#7907;p v&#7899;i nh&#7853;n th&#7913;c ng&agrave;y c&agrave;ng t&#259;ng v&#7873; quy&#7873;n ri&ecirc;ng t&#432;, t&#7841;o ra m&#7897;t n&#7873;n t&#7843;ng v&#7919;ng ch&#7855;c. C&aacute;c nh&agrave; ph&acirc;n t&iacute;ch tin r&#7857;ng nh&#7919;ng y&#7871;u t&#7889; n&agrave;y &#273;&#7863;t ZEC v&agrave;o m&#7897;t xu h&#432;&#7899;ng t&#259;ng d&agrave;i h&#7841;n.
<img style="height:400px;width:640px;"decoding="async" alt="L&#7841;m ph&aacute;t Zcash. Ngu&#7891;n: zooko" class="wp-image-772461 lazy" loading="lazy" src="https://assets.beincrypto.com/img/a8Vb6WHdkxI3MqjtKwsetegeoac=/smart/cfb9ccc2373e4196b3d72a199b682fe4">L&#7841;m ph&aacute;t Zcash. Ngu&#7891;n: <a href="https://x.com/zooko/status/1988390542775107694" target="_blank" rel="noreferrer noopener nofollow">zooko</a>

C&acirc;u chuy&#7879;n t&#259;ng gi&aacute; c&#7911;a ZEC c&#361;ng <a href="https://vn.beincrypto.com/from-zcash-to-coti-low-cap-privacy-altcoins/" target="_blank" rel="noreferrer noopener">truy&#7873;n c&#7843;m h&#7913;ng cho m&#7897;t l&agrave;n s&oacute;ng t&#259;ng gi&aacute; m&#7899;i trong c&aacute;c &#273;&#7891;ng altcoin ch&#7911; &#273;&#7873; quy&#7873;n ri&ecirc;ng t&#432; nh&#7887; h&#417;n</a>. C&aacute;c chuy&ecirc;n gia d&#7921; &#273;o&aacute;n r&#7857;ng c&aacute;c altcoin t&#7853;p trung v&agrave;o quy&#7873;n ri&ecirc;ng t&#432; c&oacute; th&#7875; s&#7899;m thu h&uacute;t s&#7921; ch&uacute; &yacute; t&#7915; c&aacute;c t&#7893; ch&#7913;c. Th&#7853;m ch&iacute; c&oacute; th&#7875; &#273;&#432;&#7907;c bao g&#7891;m trong c&aacute;c Digital Asset Trusts (DATs), trong &#273;&oacute; c&oacute; th&#7875; &#273;&oacute;ng vai tr&ograve; nh&#432; &ldquo;<a href="https://x.com/0xMert_/status/1988208842141036948" target="_blank" rel="noreferrer noopener nofollow">ng&#7921;a Troia</a>&rdquo; &#273;&#432;a v&#7889;n m&#7899;i v&agrave;o th&#7883; tr&#432;&#7901;ng.