Zcash (ZEC), a privacy-focused decentralized cryptocurrency, rose 43% in just 24 hours, rising above $600 while most major digital assets remained relatively flat. This sharp rise has positioned Zcash as one of the best performing cryptocurrencies today.
The sudden hack has made many traders excited and wondering why the price of Zcash is rising so quickly today.
Co-founder of Multicoin Capital invests in Zcash
One of the biggest drivers behind today’s rise came from Tushar Jain, co-founder of Multicoin Capital, who revealed that he made a significant investment in Zcash this year.
Jain explained that Zcash aligns strongly with the original “cypherpunk” vision of cryptocurrencies, with an emphasis on privacy, resistance to censorship, and financial freedom. He pointed to Zcash’s Protected Transactions feature, which hides sender, recipient, and transaction amounts.
According to Jain, increasing regulatory pressure and wealth control policies are driving demand for truly private digital assets.
While Bitcoin offers resistance against censorship, Jain said it does not fully protect users from government tracking or wealth-related regulations. In his view, Zcash offers a stronger, privacy-focused alternative.
Robinhood List Boosts Retail Demand
Another major catalyst came from Robinhood, which officially listed Zcash in late April. The listing has given over 10 million retail users easier access to ZEC trading. Since listing, Zcash has risen more than 40% over the past 30 days, with demand continuing to soar.
On-chain data also shows that approximately 30% of ZEC’s circulating supply, approximately 5.18 million coins, is currently locked in protected pools. This reduces liquid supply in the market and can enhance upward price momentum during periods of high demand.
Trading volume explodes above $1.5 billion
Zcash’s rise is also supported by strong market activity.
Trading volume jumped nearly 71% in 24 hours, reaching nearly $1.6 billion, showing that the rally is fueled by real capital flows rather than low-volume speculation.
At the same time, filter data revealed Approximately $57.7 million It was wiped out of the market, including more than $55 million from short sellers alone. This massive short squeeze pushed prices higher as bearish traders were forced to close their positions.
Big Cryptocurrency Sounds Turning Bullish on ZEC
The rally has also gained attention from major cryptocurrency figures. Macro investor Raoul Pal described Zcash as Bitcoin’s “little brother.”
Meanwhile, cryptocurrency influencer Jesus Martinez He claimed,
“Zcash will do what Bitcoin couldn’t do.”
These comments helped spark a buzz on social media and renewed interest in privacy-focused cryptocurrencies.
Zcash price forecast
From a technical perspective, Captain Vibeck, a cryptocurrency trader, believes that ZEC may still have room to run.
Captain Vibeck noted that Zcash recently broke out of a long-term downtrend channel near the $490 level, a move that is often viewed as a bullish reversal signal.
According to Vibeck, if the bullish momentum continues and overall market conditions remain supportive, ZEC is likely to rise towards $1,280 in the coming months.
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