Zcash Tops Coinbase Searches After Halving
Zcash surged over 10-fold in November, briefly regaining large-cap status above a $10 billion valuation. On Coinbase, ZEC became the platform’s most-searched asset, drawing around 52,000 searches—surpassing Bitcoin and XRP. The rally was driven by three core factors: the Nov. 2024 halving that halved daily issuance, a jump in shielded balances from 1.7 million to over 4.5 million coins, and the NU6.1 upgrade introducing an 8% community grant and 12% coinholder-controlled funding model. These shifts reframed Zcash as a “sound money” privacy coin with institutional compliance appeal amid tighter AML rules. Analysts are split on whether this move is a blow-off top—given a 1,000% gain since September—or a genuine repricing supported by strengthened fundamentals. For traders, the key takeaway is that exchange search data can signal retail momentum spikes, but distinguishing FOMO-driven tops from sustainable trends depends on underlying protocol developments.
Bullish
This news is bullish because it highlights both strong retail interest and concrete protocol improvements. Zcash’s November spike mirrors past halving-driven rallies, such as Bitcoin’s 2016 event, where reduced supply and heightened media attention fueled multi-month gains. The surge in shielded balances and the NU6.1 governance model also strengthen fundamentals, signaling real utility beyond speculative hype. In the short term, increased search volume and futures open interest could sustain positive price momentum. Over the long term, if Zcash maintains growth in privacy use cases and transparent funding, it may secure a higher valuation band. Traders should watch for profit-taking corrections, but the combined catalyst of halving and governance upgrade supports a bullish outlook.