Zcash’s Meteoric Rise: Privacy Coin Surges 248% in 30 Days, Flips $6.5B Market Cap
Move over, Bitcoin—Zcash just schooled the crypto old guard with a monthly performance that'd make even Wall Street's algo traders blink. The privacy-focused asset isn't just beating the market; it's rewriting the playbook.
Here's what's fueling the frenzy:
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Privacy meets demand
: Institutional players are piling into ZEC as regulatory scrutiny pushes them toward compliant anonymity solutions.
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Exchange effect
: Major listings coinciding with Bitcoin ETF mania created a perfect liquidity storm.
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The FOMO factor
: Retail traders chasing the 248% pump created a self-reinforcing cycle—until the next 'safe haven' narrative takes over, naturally.
While Bitcoin maximalists grumble about 'ghost chain' fundamentals, Zcash's rally proves one immutable truth in crypto: narrative velocity still trumps everything—even Satoshi's whitepaper. For now.
While most cryptocurrencies faced pressure in October, Zcash (ZEC) stood out as a remarkable exception. According to Grayscale’s latest report, ZEC jumped 248% during the month, lifting its market capitalization to around $6.5 billion. This surge came even as broader market valuations declined, showing strong investor appetite for privacy-focused assets.
Zcash, similar to Bitcoin in design, enables private transactions through its shielded address system. Interest in this feature has surged, with about 30% of the total ZEC supply now stored in shielded wallets, up from an average of 10% recorded earlier this year. This trend suggests that users are increasingly prioritizing financial privacy over full transparency on public blockchains.
Grayscale’s report also emphasized that as blockchain technology continues to integrate into traditional finance, privacy tools like those offered by Zcash could see greater institutional adoption. The report pointed out that privacy is essential for mass adoption since most individuals and businesses are reluctant to have their transaction data publicly visible.
Zcash Surges Over 32% in a Single Day
The ZEC/USD pair ended the day with a price of $711.66, ranging between $525.15 and $749.06, marking a massive 32.85% growth in a single day. Currently, the price is well above its moving averages, with the 20-Day EMA standing at $395, the 50-Day EMA at $273, while the 200-Day EMA is close to $124.
Momentum, on the other hand, is showing some signs of caution with its indicators, although the other aspects are clearly favorable for buying, with the price having reached overbought zones, the Relative Strength Index (RSI) is close to the 90 mark, meaning that ZEC is well within the overbought region, typically experiencing some cooling off before the start of the next leg up in the journey.
The other indicator, theMACD, is still on the move, meaning that the markets are still retaining strong levels of upward momentum with the help of increased volumes, which
Potential Upside Toward $800–$1,000 if Momentum Holds
The current price of ZEC is in the parabolic region, with traders focusing on the crucial support levels. The 20-day EMA at $395 is the prominent support, with the 50-Day EMA at $273 marking the deeper level, in the event of the price correcting downwards. A breach of these levels may amplify the sell pressure, with the target levels being the 100-Day EMA and the 200-Day EMA.
However, if the momentum is maintained, Zcash may uptrend once again, testing the high of $749 or even reaching the levels of $800 or $1,000. However, due to the highly oversold RSI, the price may undergo some correction before the uptrend resumes.
Also Read: Zcash (ZEC) Eyes $575 Short-Term Target with Rising Buying Pressure
