Zcash Rally Gains Steam, Can ZEC’s 4.5M Shielded Supply Push It Back Into the Top 20?

Zcash (ZEC) has experienced a significant price surge, increasing by over 50% in the past week and trading above $350. This rally is attributed to a combination of technical strength, institutional interest, and a growing demand for digital privacy. A key factor supporting Zcash's resurgence is the milestone of 4.5 million ZEC now being held in shielded addresses. This represents approximately 28% of the total supply and highlights increased trust in Zcash's privacy technology, known as zk-SNARKs. The expansion of shielded transactions enhances privacy for all users and strengthens Zcash's core mission. Technical indicators, including high trading volume and a strong RSI, suggest continued upward momentum for ZEC. Analysts are observing resistance levels around $370-$400, with potential for further gains towards $450-$500. Arthur Hayes has even predicted a potential rise to $1,000 for ZEC. Institutional involvement is also growing, with Grayscale's Zcash Trust seeing substantial assets under management. This renewed interest in privacy tokens like Zcash is occurring amidst increasing global market surveillance and KYC regulations. If Zcash maintains its current trajectory and overcomes key resistance levels, a return to the top cryptocurrency rankings by market capitalization is a strong possibility.