Privacy-focused cryptocurrency Firo (FIRO) has experienced a significant price surge, climbing over 300% in November to reach a three-year high. Despite this impressive growth, Firo's market capitalization remains under $100 million. The surge is driven by investor anticipation of an upcoming hard fork, which will introduce tradable Spark names and enhance the use of zero-knowledge proofs. However, potential risks loom as the supply of Firo is highly concentrated, with the top ten wallets holding more than 39% of the total supply. Additionally, the cryptocurrency's volatility is influenced by regulatory pressures and the performance of similar privacy coins like Zcash.