A Solana-based cat memecoin is turning trading activity into Zcash rewards, creating an unusual connection between a speculative token and one of the crypto market’s strongest recent performers.
Anonymous Cat, known by its ZCAT ticker, applies a 3% fee to every token transfer. Most of the money collected through that mechanism is converted into Zcash (ZEC) and distributed to eligible ZCAT holders.
The reward system has become particularly lucrative as ZEC has surged. Project data shows that roughly 2,320 ZEC, valued at about $2.8 million as of Monday morning in Asia, has been distributed through more than 470,000 payouts. Wallets generally need to hold at least $20 worth of ZCAT to qualify.
The payouts, however, should not be confused with profits generated by an underlying company or investment. They are funded by transaction activity involving ZCAT. If fewer traders buy, sell or transfer the token, the amount of ZEC available for distribution could fall sharply.
Zcash itself has delivered an extraordinary rally, gaining more than 2,300% over the past year. ZEC crossed $1,200 late Sunday as traders returned to privacy-focused cryptocurrencies.
Zcash is built to obscure key transaction information, including the identities of senders and recipients as well as the amount transferred. Its recent performance has consequently become a major indicator for traders betting that privacy could once again become a dominant theme in crypto markets.
There is also an easier route for investors seeking Zcash exposure. Grayscale introduced a spot Zcash ETF on NYSE Arca in late August, allowing investors to gain exposure through a U.S.-listed investment vehicle instead of purchasing and holding ZEC themselves.
ZCAT is traded against ZEC through StonkFun, a Solana launchpad that allows newly launched tokens to pair with assets other than SOL and stablecoins.
The token has also benefited from the broader Zcash momentum. ZCAT was trading near 13 cents on Monday, giving it an estimated market capitalization of $124 million and around $22 million in 24-hour trading volume. It reached nearly 19 cents over the weekend before reversing lower during Monday’s early session.
Cat Coins Capture Crypto Traders’ Attention
The latest ZCAT rally is part of a wider resurgence in cat-themed memecoins, many of which have gained popularity without a clear fundamental catalyst.
Cash Cat offers another example. The token gained attention following the July launch of Robinhood Chain and developed a cult following partly because the name was associated with Robinhood before the brokerage settled on its current brand.
During its first week of trading, one trader reportedly turned about $800 into more than $1 million. Memecoins also quickly emerged as one of the most active categories on Robinhood Chain, despite the network being developed primarily to support tokenized stocks.
The memecoin boom has since intensified. Memecoin applications now account for a significant portion of activity on Robinhood Chain, while token-launch platform Pons recently reported more than 22,000 tokens created in a single day and millions of dollars in user-generated fees.
For ZCAT investors, however, the central question remains whether the token can maintain enough attention and trading volume to support its reward mechanism.
That makes the token less of a conventional investment and more of a speculative wager on the staying power of a cat-themed meme, Zcash’s continued popularity and sustained market liquidity.
