Zcash May Target $875 as Zashi Wallet Shields Drive Surge

• Shielded transactions in Zashi Wallet spark buying interest, allowing users to convert assets like Bitcoin into private ZEC seamlessly.

• Trading volume has risen 82%, with positive buy-sell delta indicating strong accumulation in spot markets.

• Futures markets show 104.92% increase in derivatives volume to $9.4 billion, with long-short ratio at 1.04 signaling bullish sentiment.

Discover the Zcash price surge: ZEC up 30% on Zashi Wallet’s shielded swaps. Explore market momentum, key levels, and what’s next for investors seeking privacy-focused crypto gains.

What is causing the recent Zcash price surge?

Zcash price surge stems primarily from excitement surrounding the upcoming shielded ZEC purchases through the Zashi Wallet, set to launch next week. This innovation, powered by Near Intents, will allow users to privately exchange other cryptocurrencies like Bitcoin into shielded ZEC at equivalent value. The development has fueled optimism amid broader market fluctuations, leading to a 30.72% daily gain and an 82% volume spike as investors position for enhanced privacy features.

How will shielded ZEC purchases impact the Zcash ecosystem?

The introduction of shielded transactions via Zashi Wallet represents a significant step for Zcash’s privacy protocol. Users can now swap assets into fully shielded ZEC, minimizing transparency risks in conversions. Data from on-chain analysis shows this has already triggered aggressive buying, with ZEC’s market cap rising 35% to rank it 12th among cryptocurrencies. While praised for bolstering anonymity, on-chain investigator ZachXBT has highlighted potential vulnerabilities, such as refund leaks through transparent addresses, urging users to exercise caution. According to Zcash Foundation insights, this feature aligns with the network’s core mission of optional privacy, potentially attracting more institutional interest in secure transactions.

Source: Josh Swihart

Since reaching a low of $423, Zcash has achieved higher closing prices for three straight days, maintaining support above its short- and long-term moving averages. At the time of reporting, ZEC traded at $673, reflecting sustained upward pressure despite general crypto market uncertainty.

Why are buyers returning strongly to Zcash markets?

Market participants have shown renewed confidence, evidenced by three consecutive days of positive buy-sell delta. In the last 24 hours, buy volume reached 1.6 million units against 1.4 million in sell volume, yielding a net delta of 200,000 units. This pattern underscores spot market accumulation, as traders anticipate benefits from the privacy enhancements.

Source: Coinalyze

Such dynamics indicate a shift toward buyer dominance, supporting ZEC’s recovery from recent lows.

How aggressive is the Zcash futures market activity?

Following signs of recovery, futures traders have aggressively entered positions, dominating the market over the past week. The futures taker cumulative volume delta has stayed positive, highlighting consistent buyer control. Derivatives volume climbed 104.92% to $9.4 billion, while open interest increased 43.93% to $1.28 billion, pointing to heightened participation and capital inflow. The long-short ratio stands at 1.04, with most positions leaning bullish, as participants bet on continued price appreciation.

Source: CryptoQuant

Source: CoinGlass

These metrics collectively suggest a robust outlook, with traders aligning on potential upside.

Frequently Asked Questions

What is the Zashi Wallet’s role in the Zcash price surge?

The Zashi Wallet facilitates shielded ZEC purchases starting next week, enabling private swaps from cryptocurrencies like Bitcoin. This has driven a 30.72% price increase to $673 and 82% higher trading volume, as privacy-focused investors accumulate ZEC ahead of the launch.

Is Zcash a good investment amid current market conditions?

Zcash offers strong privacy features through zk-SNARKs, making it appealing for secure transactions. With recent momentum pushing prices above key moving averages and bullish futures data, it shows recovery potential, though investors should monitor resistance at $750 and volatility risks.

Key Takeaways

• Anticipation of Zashi Wallet’s shielded swaps: Fuels 30.72% price rise and 35% market cap growth, enhancing Zcash’s privacy appeal.
• Strong buyer activity in spot and futures: Positive delta of 200K in spot and 1.04 long-short ratio indicate sustained demand.
• Potential price targets: Break above $750 could reach $875, with support at $495 if momentum weakens.

Source: TradingView

Conclusion

The Zcash price surge highlights growing interest in privacy-centric solutions, propelled by the Zashi Wallet’s shielded ZEC purchases and robust market participation. With trading volume up 82% and bullish indicators like the Stochastic Momentum Index crossing positively at 6.6, ZEC stands poised for further gains if it surpasses $750. Investors eyeing privacy coins should track these developments closely, as they could shape Zcash’s trajectory in the evolving crypto landscape.