The privacy altcoin Zcash (ZEC) sharply moved up: in one day it rose by 40%, and over the past week — by more than 70%.
One of the reasons was an announcement from the decentralized exchange THORSwap. Now ZEC can be swapped directly for coins such as BTC, Ethereum and Solana. This expanded trading opportunities and increased the coin’s liquidity.
Interest in the project has also increased from developers. The Zcash community has introduced a new repository in Rust, where a multi-factor key derivation function (MFKDF) is implemented — this gives developers more tools for experimentation and building products.
At the time of publication, ZEC is priced at $92.62, having gained more than 42% in a day. This is the most notable growth among all coins from the top 100 by market capitalization, according to CoinMarketCap.
Cryptocurrencies with the best daily performance. Source: CoinMarketCap
Will Zcash reach the $100 mark?
The sharp increase in activity around ZEC is unlikely to be attributed only to speculation — the surge of interest coincided with growing public discussions about financial surveillance and digital identifiers.
One of the key events was the Zashi update on September 16, which added the ability for cross-chain swaps. This led to a sharp jump in anonymous transactions. Their volume reached 3.06 million ZEC. At the same time, Google recorded a record interest in the query ‘privacy coins’.
However, the current growth of ZEC is supported not only by panic or news — the technical picture also looks quite optimistic.
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The coin confidently broke through the resistance zone at $56, which had been relevant since June 2022. In addition, the 14-day relative strength index (RSI) is at 83.69, and the MACD indicator reached 7.95 — both indicators point to a strong upward momentum.
On-chain analyst and crypto expert Vini Barbosa noted in his analysis the rapid growth of Zcash‘s capitalization. According to him, the coin surpassed projects such as TRUMP and IMX, rising from 92nd to 65th place in the overall ranking in just nine days.
If the upward trend continues in the coming days, reaching the $100 level looks more than likely. However, for ZEC to consolidate above this mark in the long term, a positive community reaction to the latest integrations and network updates will be needed.
