Zcash (ZEC), a decentralized privacy-focused cryptocurrency, surged 43% in just 24 hours, climbing above $600 while most major digital assets remained relatively flat. This sharp rally positioned Zcash as one of the top-performing cryptocurrencies of the day.
The sudden breakout has made many traders excited and wondering why Zcash’s price is going up so fast today.
One of the biggest drivers behind today’s rally came from Tushar Jain, co-founder of Multicoin Capital, who revealed he has made a significant investment in Zcash this year.
Jain explained that Zcash strongly aligns with the original “cypherpunk” vision of cryptocurrency, focusing on privacy, censorship resistance, and financial freedom. He pointed to Zcash’s shielded transaction feature, which hides sender, receiver, and transaction amounts.
According to Jain, rising regulatory pressure and wealth-control policies are increasing demand for truly private digital assets.
While Bitcoin offers resistance against censorship, Jain argued that it does not fully protect users from government tracking or wealth-related regulations. In his view, Zcash offers a stronger privacy-focused alternative.
Another major catalyst came from Robinhood, which officially listed Zcash in late April. The listing gave more than 10 million retail users easier access to ZEC trading. Since the listing, Zcash has surged more than 40% over the past 30 days, with demand continuing to rise.
On-chain data also shows that nearly 30% of ZEC’s circulating supply, roughly 5.18 million coins, is currently locked in shielded pools. This reduces liquid supply in the market and can strengthen bullish price momentum during periods of high demand.
Zcash’s rally is also being backed by strong market activity.
Trading volume jumped nearly 71% in 24 hours, reaching approximately $1.6 billion, showing that the rally is supported by real capital inflows rather than low-volume speculation.
At the same time, liquidation data revealed nearly $57.7 million wiped out from the market, including over $55 million from short sellers alone. This massive short squeeze pushed prices even higher as bearish traders were forced to close positions.
The rally has also gained attention from major crypto personalities. Macro investor Raoul Pal described Zcash as the “younger sibling” of Bitcoin.”
Meanwhile crypto influencer Jesus Martinez claimed,
“Zcash will do what Bitcoin couldn’t do.”
These comments helped fuel social media buzz and renewed interest in privacy-focused cryptocurrencies.
From a technical perspective, Crypto trader Captain Faibik believes ZEC may still have room to run.
Captain Faibik noted that Zcash recently broke out of a long-term downward channel near the $490 level, a move often viewed as a bullish reversal signal.
According to Faibik, if bullish momentum continues and overall market conditions remain supportive, ZEC could potentially climb toward $1,280 in the coming months.
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