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Zcash Climbs $1,600 as Its New ETF Keeps Buying

Zcash is at $1,600, up about 90% in 30 days and above $1,500 for the first time since 2016. In 2024 one ZEC cost about $16.

check on Zcash

Bitcoin's rules, with a privacy switch

Zcash has the same supply cap as Bitcoin: 21 million coins, with rewards halved on a schedule. The difference is shielded addresses. Send from one, and the blockchain confirms the transaction was valid without showing who paid whom or how much. Last week 62,379 transactions used them, the most since 2022.

Why people buy

Grayscale's spot Zcash ETF (ZCSH) started trading on 25 August and holds almost $1 billion so far. Every new share needs real ZEC behind it, so money going into the fund lands on the market as buy orders. Holders are also backing NU7, an upgrade that makes blocks three times faster. 99.9% of the ZEC that voted said yes, and mainnet launch is set for 5 November.

What are the risks

A lot of ZEC trading runs on borrowed money: bets on ZEC futures hit a record $3.5 billion this month. When the price slips, exchanges close those positions automatically, and the selling feeds itself. Volumes are also far thinner than Bitcoin's, so one large order can move the price hard.

This week traders are watching $1,595 as the floor and $1,700 as the ceiling. If you buy, size it for a bad week and leave leverage alone.

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