ZCAT distributes $2.8M in Zcash to holders

• Anonymous Cat, or ZCAT (CRYPTO:ZCAT), has distributed about $2.8 million in Zcash (CRYPTO:ZEC) to eligible holders.
• The payouts came from a 3% transfer tax and have covered more than 470,000 distributions.
• ZEC has climbed more than 2,300% over the past year and recently topped $1,200.

Anonymous Cat, or ZCAT (CRYPTO:ZCAT), has distributed about 2,320 Zcash (CRYPTO:ZEC) worth roughly $2.8 million to eligible holders.

ZCAT charges a 3% tax whenever the token moves, with most proceeds converted into ZEC for holders.

Wallets holding at least $20 worth of ZCAT qualify for the distributions, which have now exceeded 470,000 payouts.

ZCAT traded near 13 cents on Monday, giving it a market value of about $124 million and daily volume near $22 million.

The token briefly reached about 19 cents over the weekend before falling sharply during early Monday trading.

Zcash has gained more than 2,300% over the past year and passed $1,200 late Sunday as demand for privacy-focused cryptocurrencies increased.

The ZCAT payouts depend on trading activity, so distributions could fall sharply if trading and liquidity decline.

At the time of reporting, Anonymous Cat price was $0.1412.