Privacy Coin Zcash Continues Historic Surge, Nearing 8-Year High Price
Privacy-focused cryptocurrency Zcash experienced an extraordinary rally on Friday, soaring about 33% within hours and causing over $51 million in short positions to be liquidated. The sharp rise highlighted renewed interest in the coin, long considered Bitcoin’s private counterpart.
By Friday afternoon, Zcash’s price climbed to nearly $735, up from $536 the previous day. It later stabilized around $666, still marking a 25% daily gain. That made Zcash-based trades the third-most liquidated in the market, after Bitcoin and Ethereum.
- More than $59 million in Zcash positions were liquidated, including both long and short orders, according to CoinGlass.
- By comparison, Bitcoin saw $150 million and Ethereum $146 million in liquidations.
A Month of Explosive Growth
The recent surge followed a sustained upward trend starting in early October. For more than three years, Zcash had traded near $40 before its price suddenly exploded tenfold in just five weeks. Friday’s peak represented the highest level since January 2018.
According to CoinGecko, at its current price Zcash still remains 79% below its all-time high of $3,191 recorded in 2016.
Author’s summary: Zcash has rocketed tenfold within weeks, briefly approaching its highest level since 2018 and reigniting interest in privacy-centered cryptocurrencies.