Zcash's surge reflects cross-chain liquidity and rising attention, but the key test is whether usage keeps up with price.
Zcash exploded Wednesday. The privacy coin jumped over 30% after news broke about a two-week U.S.-Iran ceasefire, sending traders scrambling to catch the wave.
The Zcash price surged over 30% in 24 hours after the Grayscale Zcash Trust reportedly accumulated approximately $46 million in shielded ZEC, triggering the sharpest single-day rally the privacy coin has seen in weeks and pushing daily trading volume past
Zcash recorded one of the most violent moves of the day, but this jump of more than 20% to 30% looks more like a speculative surge under tension than a clean and sustainable reversal. The context helps, of course.
ZEC Price Surge: Privacy Coin Rally After Iran Ceasefire
Zcash (CRYPTO: ZEC) surged 21% after Foundry, the world's largest Bitcoin (CRYPTO: BTC) mining pool, announced Wednesday it would add ZEC support, marking a significant institutional signal from a pool that has historically mined only Bitcoin. The Triple Catalyst Foundry's decision to add Zcash support represents a major shift for the world's largest Bitcoin mining pool.
Ceasefire rally: Zcash jumped after the US-Iran ceasefire announcement, briefly hitting $336.50 before settling near $332 with nearly 25% gains. Technical structure: Zcash is repeating its 2021 pattern, holding support near $197 while testing a descending trendline that could either trigger a breakout toward $370 or confirm a bull trap.
Zcash exploded higher Tuesday. The privacy coin jumped 30% to $60 as rumors swirled about potential US-Iran ceasefire talks, sparking one of crypto's wildest single-day moves this year.
ZEC's latest rebound resembled bounces witnessed during the 2021 bear market, raising the odds of a 40% correction in the coming weeks.
The crypto market saw a surprise rally early Wednesday, which saw over $600 million in liquidations, sending Bitcoin and altcoins higher.
"The path looks open for a continued rally," one X user argued.
Zcash surged 25% to nearly $335 following the announcement of a ceasefire between the U.S., Israel, and Iran. The rally pushed ZEC's weekly gains to 33%, significantly outperforming bitcoin and bringing its market capitalization to $5.4 billion, nearing its competitor monero.