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Zcash Price Surpasses $230 for the First Time in Three Years

Zcash Price Surpasses $230 for the First Time in Three Years

In two weeks, Zcash's value surged over 325%.

Over the past two weeks, the value of the privacy-focused cryptocurrency Zcash has surged by more than 325%. On October 10, the price of ZEC reached $230 for the first time since 2022.

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Hourly chart of ZEC/USDT on Binance. Source: TradingView.

Reasons for the Surge

The wave of growth began following the announcement of the launch of Zcash Trust by asset manager Grayscale. This instrument is designed for accredited American investors.

Positive sentiment also spread to other privacy coins, including Dash and Railgun. The latter’s quotes jumped nearly 230% over the past seven days.

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Top privacy cryptocurrencies by market capitalization. Source: CoinGecko.

In the past 24 hours, the market value of privacy cryptocurrencies has increased by 14% to $12.7 billion.

Some experts have also linked the rally in the segment to intensifying discussions about privacy amid new government initiatives.

The draft law “On Chat Control,” currently under consideration by the European Union (EU) authorities, has sparked significant public debate. The document proposes monitoring users’ private messages using AI to detect prohibited content.

“Surveillance and censorship are not weakening, but intensifying. Privacy will only become more valuable. More people will begin to realize how transparent their actions are online, and censorship-resistant technology will be our shield. For ZEC, this is just the beginning,” wrote former White House advisor and Zcash advisory board member Thor Torrens.

“Insurance Against Bitcoin”

In October, the coin received public support from notable figures in the crypto industry, including venture capitalist Naval Ravikant.

“Bitcoin is insurance against fiat. Zcash is insurance against Bitcoin,” he wrote earlier this month.

Unlike the first cryptocurrency or Ethereum, the project supports fully private transactions through shielded addresses. These can conceal the sender, recipient, and amount details.

Solana Helius Labs CEO Mert Mumtaz also joined the promotion. He stated that tools like ZEC “significantly enhance the privacy of cryptocurrency systems.” The expert anticipates the asset’s price to rise to $1,000.

From 2027, new EU rules will come into effect prohibiting anonymous crypto accounts and the use of privacy coins like Monero and Zcash under AML regulations.

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