Zcash (ZEC) is back in the spotlight after a sharp rally pushed the privacy-focused cryptocurrency to its highest price since late November. The token has surged as investor interest in privacy coins grows, supported by rising trading activity and a major jump in futures market participation.
ZEC recently climbed to around $513, marking a gain of more than 70% from its monthly low near $302. This strong rebound has placed Zcash among the top-performing cryptocurrencies in the market over the past few weeks.
The rally isn’t happening in isolation. Demand for privacy-focused digital assets has been picking up across the board. Dash has jumped more than 26% from its lowest level this month, while Monero, the largest privacy coin by market value, has rallied sharply to $452, up from $320 in November. Other privacy-oriented projects such as Horizen, Decred, and Midnight have also posted notable gains, reflecting renewed interest in privacy-focused blockchain solutions.
One of the strongest signals supporting Zcash’s price momentum comes from the derivatives market. Futures open interest has surged to nearly $1.3 billion, its highest level since November 17, and a massive jump from this month’s low of $700 million. Rising open interest typically indicates that more traders are entering the market and placing bets on future price moves, often signaling increased confidence and liquidity.
Spot market activity tells a similar story. Trading volume on spot exchanges has climbed steadily over the past several days, hitting $4.18 billion on Sunday, the highest level recorded since December 12. This rise in volume suggests that the rally is backed by strong participation rather than thin trading.
On-chain data also points to growing network usage. In the past 24 hours alone, Zcash transactions rose to 46,600, while the network’s shielded supply has surpassed 4 million ZEC, highlighting increased adoption of its privacy features.
From a technical perspective, Zcash’s chart structure remains bullish. On the daily timeframe, the price has moved decisively above the 50-day Exponential Moving Average, a key signal that buyers are in control. ZEC has also broken past the important $470 resistance level, which previously capped gains in mid-December.
Additionally, the token is attempting to push above the upper boundary of the Supertrend indicator, a move that often confirms trend continuation. If momentum holds, analysts see Zcash targeting its year-to-date high of $746, which represents a potential 45% upside from current levels. A clean breakout above that zone could open the door for a run toward the $800 psychological level.
For now, strong demand, rising futures activity, and bullish technical signals suggest Zcash may still have room to run.
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