Zcash (ZEC) Jumps on Risk-On, Targets $420 as Myriad Turns Bullish

Zcash (ZEC) is extending gains after a strong weekly surge, trading around $379.9 and up roughly 15% in 24 hours. Traders increasingly point to a bullish shift on the Myriad prediction market (run by Dastan), where the odds of ZEC hitting $420 in April rose to 60% from about 20% bearish sentiment the day before. This implies another ~10% upside from current levels, supporting a potential continuation trend. A specific Zcash catalyst is not clearly identified, but the article links the move to broader crypto strength. Risk sentiment improved after a conditional US–Iran ceasefire arrangement reduced escalation risk, lifting major assets and enabling a “risk-on” rotation. Zcash also benefits from a wider privacy-coin bounce, though the category’s weekly performance is mainly driven by ZEC (along with DASH). The news also revisits a Zcash security point: a vulnerability in zcashd nodes tied to the deprecated Sprout shielded pool was disclosed and patched after late March, reducing “derisking” concerns for millions of dollars in ZEC. For traders, the setup is momentum-led and tied to market-wide flows. Earlier tape dynamics highlighted rising activity in derivatives and short liquidations, with traders watching key resistance near $330 and extension scenarios toward the $400 zone if ZEC breaks higher. However, if the rally is mostly squeeze-driven and macro risk-on fades, ZEC could retrace back toward the low-$200s.