Zcash is experiencing strong upward movement in the cryptocurrency market. The privacy-focused token has posted gains of nearly 21% in the past 24 hours.
Over the past week, ZEC has climbed 63.78%. The token is currently trading at $633.19 with a 24-hour trading volume of $3.2 billion.
The market capitalization for Zcash now sits at approximately $10.29 billion. This represents heightened activity and growing investor interest in the privacy coin.
Recent data from Whale Insider shows a new crypto whale deposited 3.54 million USDC into Hyperliquid. The whale immediately placed a limit long order for ZEC at $508.50.
This large position has drawn attention across the market. Whale activity can influence price trends due to the scale of their trades.
The strategic limit order suggests the investor aims to maximize their risk-reward ratio. When ZEC reaches the $508.50 entry point, market participation and volatility are expected to increase.
Crypto analyst Altcoin Sherpa noted that ZEC recently spiked to around $749. The sudden surge was irregular and the price has since corrected.
$ZEC This is going to come back down again, I just dont know how/when. The more imbalanced this move, the higher likelihood that was the top for a while. Need some time for a semi bottom to form imo pic.twitter.com/1AsLizcXjp
— Altcoin Sherpa (@AltcoinSherpa) November 8, 2025
The token found initial support around $501. Heavy trading volumes at this level indicate buyers are defending this price point.
On the upside, ZEC has cleared short-term resistance near $588. If the positive movement continues, the midterm target sits around $660.
A successful break above $660 could lead to a revisit of the $749 level. Key Fibonacci retracement levels at $475.40, $390.81, and $306.22 serve as potential support zones during pullbacks.
Arthur Hayes, co-founder of BitMEX, revealed that Zcash is now the second largest holding in his Maelstrom fund. Only Bitcoin ranks higher in the portfolio.
Hayes wrote on X that “Due to the rapid ascent in price, ZEC is now the 2nd largest LIQUID holding in MaelstromFund portfolio behind BTC.” The disclosure came as Zcash rallied sharply.
Due to the rapid ascent in price, $ZEC is now the 2nd largest *LIQUID* holding in @MaelstromFund portfolio behind $BTC.
— Arthur Hayes (@CryptoHayes) November 7, 2025
The token surged from a low of $137 to over $730 in the past month. This represents an increase of over 400%.
Other privacy coins have also posted strong weekly gains. Dash, Decred, and ZKsync all climbed by more than 100%.
Bitcoin and Ether remained range-bound during the same period. This highlights the current market interest specifically in privacy-focused cryptocurrencies.
As of recent data, ZEC trades at $548, down approximately 11.8% in 24 hours. The 24-hour trading volume jumped 139% to $4.63 billion.
Zcash’s circulating supply stands at 16.28 million ZEC. The maximum supply is capped at 21 million tokens, similar to Bitcoin.
The fully diluted valuation is around $11.5 billion. The token uses a proof-of-work mechanism and offers both transparent and shielded transactions.
Alex Bornstein, executive director of the Zcash Foundation, stated the recent resurgence has been entirely organic. Growing public concern about government surveillance and data control has fueled interest.
The Zcash Foundation had no involvement in the renewed attention. Bornstein said they were surprised when mentions started appearing and the wave began to spread.
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