- ZCash has risen more than 140% in less than two weeks, reaching its highest value since 2021.
- Short positions totaling nearly $2 million were liquidated as the token reached $170.
- Access through Grayscale and endorsements from key industry figures have fueled investor interest.
- Social media attention from prominent personalities contributed to Zcash’s sharp rally.
- Zcash enables fully private crypto transactions, setting it apart from Bitcoin and Ethereum.
The privacy-focused cryptocurrency Zcash has experienced a significant price surge over the past two weeks, more than doubling in value and climbing to levels not seen since 2021. This increase occurred as the token rallied during a broader upswing in the digital asset market.
According to CoinGecko data, Zcash rose by over 140% in under 14 days, breaching $170. During this uptick, nearly $2 million in short positions were liquidated, based on CoinGlass data.
Experts say the surge was driven by new institutional access through Grayscale investment vehicles and strong endorsements on social media. “The recent price rise can be heavily attributed to Grayscale recently allowing eligible investors to gain exposure via their funds, along with prominent voices like investor Naval Ravikant voicing support,” said Sean Dawson, head of research at the on-chain options platform Dervie.
Recent sentiment analysis from Messari reported a 1,000% increase in mentions of Zcash, reflecting growing interest and visibility for the token. Notable endorsements on social media came from venture capitalist Naval Ravikant and Mert Mumtaz, CEO of the Solana infrastructure company Helius Labs, which coincided with breaking Zcash’s long period of little price movement.
Zcash is distinct from many other cryptocurrencies because it employs zero-knowledge proofs, a cryptographic method allowing users to complete fully private transactions that hide details such as the sender, recipient, and transaction amount from public view. This is different from Bitcoin and Ethereum, which do not support complete on-chain privacy.
“Bitcoin is insurance against fiat. Zcash is insurance against Bitcoin,” Ravikant stated in a tweet on October 1, referring to Zcash’s privacy features.
Dawson further noted that as Bitcoin’s price has risen, some investors are looking for higher returns in related projects, describing Zcash as a “zero-knowledge (ZK) version of Bitcoin.” Other major cryptocurrencies showed varying performance this year, while select tokens like Zcash demonstrated notable strength.
Peter Chung, head of research at Presto Research, remarked that finding strong gains within altcoins can occur even when institutional investment dominates market inflows.
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