Key Insights:
- ZCash price has gained 2,850% over the last year thereby making it to top ten crypto list.
- Retail, mid-sized and institutional traders are all increasing their ZEC buying activity.
- 21Shares launched Europe’s first Zcash ETP on Euronext Paris and Amsterdam.
Privacy coin ZCash (ZEC) continues to outperform the wider cryptocurrency market, registering another 9% price increase over the past 24 hours. The token has now climbed past $1,600, reaching levels not seen since 2016. Furthermore, institutional interest in the privacy asset remains strong as Europe introduces its first ZCash exchange-traded product (ETP).
ZEC Price Hits 10-Year High on Record Rally
On the 1-year chart, ZCash crypto has delivered a record rally, gaining a staggering 2,850%, all the way from $55 to now above $1600. It has clearly outperformed BTC and the entire altcoin market, while carving out a place in the top-ten crypto list. With this rally, ZCash’s market cap has surged to $27.5 billion, as per data from CoinGeckco.
According to on-chain analytics provider LookonChain, as the value of ZEC surpasses $1,600, a trader on Aster DEX has achieved an unrealized return exceeding 15x on a leveraged ZEC long position.
Trader 0xE34E opened a 50x long position worth $224,000 for 140 ZEC. The position is currently showing an unrealized profit of $70,700, representing a 1,581% return.
Based on insights from Crypto Patel, the ZCash upward price movement could extend toward $1,872 following a breakout from a symmetrical triangle pattern, though investors should exercise caution when opening new positions.
Institutional Participation Pushes ZEC Price Higher
Crypto analyst Ardi stated that the continued strength in ZEC’s price, even after recent pullbacks, is driven by broader participation from different trader groups.
Ardi observed that mid-sized trades—ranging from $10,000 to $100,000—are continuing to scale new highs. At the same time, retail trades below $10,000 and institutional-scale transactions between $100,000 and $10 million are exhibiting higher purchasing levels.
According to Ardi, mid-sized participants had previously driven most of the rally while other groups remained on the sidelines.
Meanwhile, ZCash miners are experiencing heightened profitability, with operations reportedly outperforming Bitcoin mining. Cypherpunk shared initial metrics from its Zcash mining venture, which generated 3,023 ZEC across a 14-day window.
The firm announced it retained all the newly minted ZEC without selling any, depositing the entire yield directly into its treasury. This move highlights a strategic evolution from merely acquiring Zcash to actively mining and holding the digital currency.
ZCash ETF: Europe Gets Its First ZCash ETP
Asset manager 21Shares has rolled out Europe’s inaugural exchange-traded product dedicated to Zcash. The firm has listed this physically backed ETP on both Euronext Paris and Euronext Amsterdam.
The rollout arrives alongside a physically backed product that tracks the governance token of Etherfi, known as ETHFI. Both ETPs feature an annual management fee of 2.5% and grant regulated market exposure via standard brokerage accounts, eliminating the need for direct token custody.
This European rollout follows the previous introduction of Grayscale’s spot Zcash ETF on the NYSE Arca exchange in the United States.
Since its inception, Grayscale’s spot Zcash ETF has amassed upwards of $949 million in assets under management (AUM), backed by a holding of 623,316.53 ZEC. The fund accounts for 7,789,300 outstanding shares and logs a daily trading volume averaging roughly 638,000 shares.
This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency, leveraged trading and exchange-traded crypto products involve substantial risk.