Zcash (ZEC) Rally Soars Over 430% Monthly on Privacy Demand and Upgrades
Zcash (ZEC) has surged 433% month-to-date, including a 33% gain in the past 24 hours, marking one of the strongest rallies among privacy tokens. With a $1 billion market cap, ZEC’s rally accelerated as 27.5% of supply moved into shielded wallets, reducing sell pressure. Origins on Bitcoin’s codebase in 2016, a prior ATH near $3 000 and a low of $15 in July 2024, highlight its volatility. A failed Binance delisting vote in April bolstered confidence. Major protocol upgrades by Electric Coin Company and ZEC’s appeal as a PoW alternative to Bitcoin are driving renewed demand. As traders seek on-chain privacy, Zcash’s zero-knowledge proofs and anonymous transactions are attracting new capital. Derivative markets confirm heightened interest: ZEC futures open interest rose 22% to $303 million, outpacing BTC, ADA and AVAX, while funding rates remain neutral. As traders seek privacy and yields, ZEC’s rally could reshape altcoin trading and derivatives strategies.
Bullish
ZEC’s extraordinary price surge and a 22% jump in futures open interest signal strong buying demand and diminishing sell pressure as more tokens move into shielded wallets. Protocol upgrades by Electric Coin Company and the preservation of PoW consensus reinforce network fundamentals, attracting both retail and institutional traders. Neutral funding rates and expanding derivatives activity further support sustained upward momentum. While historical volatility suggests potential pullbacks, the convergence of on-chain metrics, renewed privacy demand, and technical upgrades underpins a bullish outlook for ZEC in both short and long term.