Zcash Soars 260% to 7-Year High Amid Grayscale Boost

Zcash’s recent performance has been nothing short of spectacular, with the privacy coin surging 260% over the past month to trade at approximately $546. This represents the highest price point ZEC has reached since the beginning of 2018, marking a significant milestone for the cryptocurrency that had previously struggled to regain its former highs. The sustained upward movement has been characterized by analysts as both “very clear” and “healthy,” with price action consistently following a sloping trendline that has provided reliable support throughout the rally.

The momentum has propelled Zcash’s market capitalization to spike above $8.8 billion, according to data from CoinGecko, making it the 22nd-largest cryptocurrency by market value. This remarkable ascent has seen ZEC flip several well-known altcoins in the rankings, including Stellar (XLM), Sui (SUI), Hedera (HBAR), and Litecoin (LTC). The cryptocurrency’s design, which shares similarities with Bitcoin but incorporates advanced privacy technology allowing users to shield their assets, appears to be resonating with investors seeking both value and privacy features in the current market environment.

Grayscale Investments, the leading digital asset manager, has emerged as a key driver behind ZEC’s impressive rally. Last month, the firm reminded potential investors that its Grayscale Zcash Trust remains open for private placement to eligible accredited investors. In its communications, Grayscale highlighted ZEC’s technical similarities to Bitcoin while emphasizing its unique privacy technology that enables users to maintain transaction confidentiality.

Shortly after this initial promotion, Grayscale doubled down on its Zcash advocacy by emphasizing that the Trust represents the only US publicly listed fund providing exposure to the privacy coin through certain brokerage accounts. This institutional validation has provided significant credibility to ZEC at a time when regulatory clarity around privacy-focused cryptocurrencies remains uncertain. The timing of Grayscale’s promotional efforts aligns perfectly with ZEC’s price explosion, suggesting that institutional interest may be playing a crucial role in the current bull run.

The crypto analysis community has responded enthusiastically to ZEC’s breakout performance. Analyst EliZ described Zcash’s chart as worthy of being used “as an example for educational purposes,” noting that the price continues to follow a clear sloping trendline where “every time it returns above it, buyers arrive and the upward movement resumes.” While EliZ refrained from providing specific price targets, the analyst maintained that as long as this trendline remains respected, the bull run should continue intact.

More ambitious predictions have come from Arthur Hayes, the co-founder and former CEO of crypto exchange BitMEX. Hayes has publicly envisioned ZEC ascending to $1,000, building on even more bullish commentary from last month when he set a long-term target of $10,000. Though Hayes acknowledged this higher figure might seem “absurd” at the moment, his endorsement carries significant weight given his standing in the cryptocurrency community and track record of market insights.

ZEC’s dramatic price surge has generated substantial profits for investors who positioned themselves early in the rally. Lookonchain revealed one particularly successful case where a trader opened a long position driven by FOMO (Fear of Missing Out) and achieved approximately $2.7 million in unrealized profits. The revelation sparked both admiration and caution within the crypto community, with multiple X users applauding the investor’s timing while others pointed to the inherent risks.

Risk management concerns have emerged as a critical discussion point, with observers noting that the trader’s liquidation price stands at $373. This relatively narrow margin highlights the volatility inherent in cryptocurrency markets, where major swings to the downside could rapidly erase paper gains. As X user Joe cautioned, “Watching new wallets move like this highlights how momentum and psychology drive price. Smart risk management would lock profits now, but greed is tempting.” The sentiment reflects the broader tension between capturing upside potential and protecting gains in a market known for its sharp reversals.