- Zcash (ZEC) jumped 36% to $180 after renewed interest from Grayscale’s investment trust and $2M in short liquidations.
- The Grayscale Zcash Trust surged 340% in six months, helping boost optimism among traders and the ZEC community.
- Analysts say a $5,000 target is unrealistic, projecting a more attainable range of $800–$1,000 given current market conditions.
Zcash is back in the headlines, and for the first time in a long while, it’s for all the right reasons. The privacy-focused crypto surged more than 36% in the past 24 hours, shooting up to around $180 after fresh bullish sentiment from Grayscale reignited interest in the project. Traders and community members are buzzing again, but some analysts say the hype might be racing ahead of reality.
The Grayscale Zcash Trust — which first launched publicly in October 2021 — has been quietly climbing this year. Over the past month alone, its price rose from $4.90 to $13.80, marking a solid 340% gain in six months. The trust now boasts a $66 million market cap with roughly 4.76 million shares sold, according to Investing.com. That momentum, paired with ZEC’s sudden volume spike to $750 million, has poured gasoline on an already warming fire.
Zcash Rides the Hype Train Again
The rally also forced around $2 million in short liquidations within 24 hours, based on data from CoinGlass — always a bullish signal in the short term. ZEC’s total market cap now sits at roughly $2.93 billion, marking its strongest performance since early 2022. For a coin that many had written off during the last bear cycle, it’s a clear reminder that narratives in crypto can flip fast.
Still, ZEC’s story isn’t new. Launched back in 2016, it was one of the first major privacy coins to gain traction, peaking at a wild $5,941 before crashing with the broader market. It’s been down about 97% from those levels ever since. Now, after a sudden move like this, some Zcash diehards are calling for the return of $5,000 ZEC — a lofty target that, let’s be honest, might be more dream than reality.
$5,000 ZEC? Probably Not Anytime Soon
For context, ZEC had a market cap of only $5.5 million during its launch era. Fast forward to now: there are over 16.25 million coins in circulation. To reach $5,000 per token, Zcash would need to climb to an $81 billion valuation — and to break its previous all-time high, it would need closer to $96 billion. Those are big numbers, especially for a project that hasn’t seen major ecosystem growth or institutional adoption lately.
While Grayscale’s renewed attention certainly helps the narrative, it’s not enough on its own to push ZEC back into five-digit territory. Analysts are leaning toward a more grounded outlook: somewhere between $800 and $1,000 if momentum continues and new demand materializes. That’s still a big upside, just not “moon-level” big.
The Road Ahead
Zcash’s fundamentals haven’t changed much—it’s still one of the most established privacy coins in the market, and with rising talk of digital surveillance and privacy concerns, that narrative could gain traction again. But to make a real comeback, ZEC will need more than nostalgia. It’ll need utility, institutional interest, and sustained liquidity.
For now, though, it’s enjoying a rare spotlight moment. Traders are back in, volume is pumping, and for Zcash’s loyal community, that might be enough of a victory—at least for this week.
