Zcash Surges 200% Pre-Halving, Market Cap at $13.4B
Zcash has climbed above $600 for the first time since 2018, surging 20% in 24 hours and 200% over the past 30 days ahead of its upcoming halving event. Trading volume topped $2.3 billion on Binance, Hyperliquid and Bybit, reflecting a 1,200% year-over-year increase, while futures open interest rose to $1.08 billion. The rally is driven by renewed interest in privacy coins, technical upgrades (zk-SNARKs, the Zashi wallet and enhanced shielded transactions) and endorsements from figures like Arthur Hayes, who set a $10,000 target. Zcash’s market cap now stands at $13.4 billion. However, the Relative Strength Index indicates overbought conditions, suggesting a potential correction. Traders should monitor regulatory developments and liquidity metrics to manage risk while capitalizing on bullish momentum.
Bullish
Zcash’s strong price rally—surging above $600 and up 200% over the past month ahead of its halving event—reflects growing momentum and heightened institutional interest. The surge in daily trading volume and record futures open interest highlights robust demand, while technical upgrades and high-profile endorsements add to bullish sentiment. In the short term, overbought RSI readings could trigger a pullback, but sustained order flow, balanced ratios and expanding liquidity suggest any correction may be shallow. Over the long term, the halving event typically reduces supply, potentially supporting further price appreciation. Traders should monitor regulatory developments for privacy coins and adjust positions by tracking volume, open interest and technical indicators to manage risk in this bullish environment.