Zcash has reached a major milestone after climbing to an eight-year high of $388 on Friday. The token gained more than 45% this week and now holds a market value of $6.2 billion.
Its daily trading volume rose by over 54% to $1.35 billion, showing strong activity as traders moved back into privacy coins. At $381, Zcash has now passed Monero to become the most valuable privacy-focused cryptocurrency.
ZEC price action | Source: CoinMarketCap
The rise came while the broader crypto market slowed down after talks between the United States and China failed to reach a tariff deal. Many assets fell during the week, but Zcash stood out with a steady rally.
This move shows growing investor demand for tokens that protect user privacy and hide transaction details. Unlike Bitcoin, which can be tracked on its public chain, Zcash keeps wallet and transaction data hidden.
The rally started after Arthur Hayes, co-founder of BitMEX, said Zcash could reach $10,000. His post last Sunday pushed the token from $272 to $355 in a few hours. The price continued to rise through the week, ending at levels last seen in 2017.
“Crazy to see how $ZEC has pulled a 10x in just two months,” said Simon Dedic of Moonrock Capital. “This is a multibillion-dollar asset, and that makes its performance even more remarkable.”
Meanwhile, On-chain data from Nansen shows more traders joining in. The number of Zcash holders rose 63% to 1,968 this week. While some large holders sold about $702,000 worth of ZEC, smaller investors kept buying. The token’s quick rise and growing base suggest strong interest even as market conditions remain weak.
At $381, Zcash now trades above its old 2021 high, with a strong momentum that presents two scenarios. On the bullish side, the market might continue to push upward, printing more highs towards the $400 price level
However, on the cautious side, when using an indicator like the RSI, it shows that ZEC is sitting at 74.51, nearing an overbought level, which suggests that the price might cool off soon before any major push to the upside.
ZEC RSI Movement | Source: TradingView
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