Zcash price jumps 20% as halving sparks 1,300% YTD rally
Zcash price has surged dramatically, climbing 1,486% over the past three months to $676.64 after a 26% one-day spike. It then jumped 20% to $658, extending a 200% rally over the last month and a 1,300% year-to-date gain. ZEC’s market cap hit $10.3 billion, making it the 18th-largest cryptocurrency.
Traders are focused on the upcoming Nov. 18 halving, which will cut block rewards by 50% and tighten supply. Historical data shows ZEC rose 92% after its 2020 halving. Speculative trading, negative funding rates and short squeezes have amplified recent price moves.
Privacy adoption is on the rise, with over 30% of ZEC moving into shielded pools—a 60% increase in one month. Technical upgrades like Zashi Wallet and Project Tachyon underscore renewed interest in Zcash’s privacy features. High-profile endorsements, notably Arthur Hayes’ $10,000 price target, have spurred retail FOMO.
Institutional inflows are picking up as well. Grayscale’s Zcash Trust assets under management doubled to $151 million. On-chain metrics show open interest up 22% to $1.12 billion, while daily trading volume fell 29% to $2.3 billion, indicating traders are holding positions. Zcash price technicals remain bullish despite an RSI of 83 signaling overbought conditions. Support sits near $550, with resistance between $700 and $720. A pullback to $600 could offer a buying opportunity, while a break above $720 may target $850.
Bullish
The combined developments signal a bullish outlook for ZEC. In the short term, halving hype and speculative momentum have driven sharp price gains, while reduced supply and historical post-halving rallies suggest further upside. Rising privacy adoption and technical upgrades strengthen Zcash’s use case, attracting both retail and institutional investors. On-chain metrics—growing open interest and stable volume—indicate strong position holdings. Although RSI levels point to overbought conditions, key supports near $550 and potential pullbacks offer entry points. Over the long term, scarcity from reduced miner rewards, continued institutional inflows and sustained demand for privacy features underpin a positive trajectory for Zcash price.