Zcash jump as ZEC pass SOL for perpetuals and on‑chain shielded use
Zcash (ZEC) do sharp rally for late-December, e jump 17% one-day reach about $515 on Dec 27 and dem get wider ~30% ‘Santa rally’ wey recover about 43% for the month and clear half of Q4 loss. Perpetual futures activity spike: global 24-hour perp volume for ZEC briefly reach about $2.9 billion (≈7% market share), small time pass Solana (SOL) and rank third behind BTC and ETH. Futures open interest and spot volumes also climb, show say speculative demand dey rise. On-chain metrics show more real use of ZEC privacy features — shielded supply double for recent months to around 4–5 million ZEC — while exchange outflows and accumulation show holders dey move coins off exchanges. Technicals turn constructive as ZEC reclaim im 50-day moving average and clear Supertrend resistance; analysts dey talk upside targets from $600 up to $746–$800 if momentum continue, with key short-term support near $450. Traders suppose note higher perp volume and rising open interest (confirmation of demand), stronger on-chain adoption of shielded pools (narrative tailwind), and the risk of profit-taking or volatility wey privacy coins dey usually get. Key actions: monitor perp volumes and open interest for sustained demand, watch $450 support and the 50-day MA for trend validity, and manage position size because volatility don high.
Bullish
Di combined reports dey show plenty bullish confirmations for ZEC. Volume indicators (24h perp volume and spot volume) plus rising futures open interest mean say na real demand e be, no be thin, short‑lived pump. Reclaim di 50‑day MA and clear Supertrend resistance dey give technical confirmation say trend don change. On‑chain growth for shielded supply and steady exchange outflows dey show accumulation and dey strengthen di fundamental narrative—privacy adoption—which fit support sustained price rise. Short‑term upside to $600–$750 fit happen if perp volume and open interest stay high; but di trade get normal privacy‑coin volatility and one clear risk: if e no hold $450 support or perp activity drop sharply e fit trigger quick profit‑taking. For traders, this mean a bullish bias but make una use strict risk management (watch support levels, scale positions, and monitor funding rates/perp flows).