Zcash ZEC Surges 40% to $743 on Hayes’ Halving Boost
Zcash (ZEC) surged 40% to $743 in 24 hours, leading a broad privacy coin rally. It had earlier climbed 15% from $315 to $362 and posted a 430% monthly gain from mid-$60s lows. Trading volume jumped over 45% to $799 million.
BitMEX co-founder Arthur Hayes renewed his $10,000 ZEC target. He cites the November 18 halving, Grayscale’s $102 million institutional fund and rising on-chain privacy demand. In October, Zcash’s shielded supply grew 13% to 4.9 million coins and daily private transactions rose 36%, signaling genuine use.
The surge also lifted Monero (XMR), Dash (DASH), Decred (DCR) and ZK (ZK) by 7–40%. While short-term volatility and influencer hype persist, traders see dips near $300–350 as buying opportunities.
Bullish
Zcash’s rapid price gains and volume surge signal clear bullish momentum. A 40% jump to $743, following prior gains of 15% and a 430% monthly rebound, shows strong buying pressure. Growth in shielded supply and private transactions points to genuine network use. Arthur Hayes’ continued $10,000 ZEC target, the upcoming halving and a $102 million Grayscale fund provide solid fundamental support. The broader privacy coin rally in Monero, Dash, Decred and ZK further reinforces market confidence. In the short term, traders may capitalize on volatility and hype, while long-term drivers like supply tightening and institutional inflows underpin sustained upside, warranting a bullish view.