Zcash soared 10.81% to $554.67, topping the gainers list, while Beldex fell 8.26% to $0.0894, leading the losers, according to CoinGecko data.
Zcash (ZEC) is currently testing the $525 resistance level, showing strong resilience with a 25% gain over the past month despite recent technical vulnerabilities. Social sentiment metrics just sent a buy signal but the risk of a drop to $390 remains high.
ZEC outperforms the broader market, but Orchard trading questions and European privacy rules could test the recovery.
Fresh market data is raising new questions about Zcash's trading activity before the Orchard vulnerability surfaced.
Zcash (ZEC) has gained roughly 17% over the past week, trading near $545 after earning a place on Forbes list of the 10 best cryptocurrencies to buy. The privacy-focused cryptocurrency joined major digital assets including Bitcoin (BTC), Ethereum (ETH), and Hyperliquid (HYPE), highlighting renewed investor interest despite ongoing regulatory and technical challenges.
Zcash is gaining attention after developers introduced a supply verification approach for shielded funds. The upgrade proposal seeks to improve transparency without exposing private transaction data. On-chain activity, including major shielded pool movements and rising privacy usage, has increased focus on ZEC's technology, security model, and long-term role in decentralized finance.
The ZCash price action was bearish in the past six weeks but has been pushing higher.
Zcash price has rallied past $500 after open interest jumped to $1.02 billion and traders accumulated positions ahead of the July 28 Ironwood upgrade. According to data from crypto.
ZEC price rises 7% to $501.62 as Zcash sets its Ironwood upgrade for July 28 to address the Orchard shielded-pool flaw.
Zcash set July 28 for the Ironwood upgrade to retire the compromised Orchard pool after an “infinity” bug disclosed in May. Ironwood closes Orchard, blocks new activity, creates a fresh private pool and requires funds leaving Orchard to pass an accounting checkpoint before entering Ironwood.
Zcash is up more than 8% today and back above $500. Here is what is driving the ZEC rally and where analysts see the price heading next.
The Ironwood upgrade's success could restore trust in Zcash, impacting investor confidence and the broader cryptocurrency market's stability. Zcash's Ironwood upgrade set for July 28 to address fake ZEC counterfeiting bug.