Aasim Majeed AMC

Privacy coin Zcash (ZEC) was trading at approximately $1,227.34 on Sept. 7, with a 7-day rise of 46.9%, marking its highest price in nearly a decade since the Crypto market bull run in 2018. CoinGlass data shows that as ZEC broke above $1,200, approximately $56.91 million in leveraged positions were liquidated over 24 hours, of which approximately $51.25 million were short positions
ZEC’s Price Rise: marketcap Exceeds $20.784 billion
According to CoinGecko data from the morning of Sept. 7, ZEC was trading at approximately $1,227.34, with 24-hour trading volume of approximately $1.922 billion, a circulating supply of approximately 16.918 million coins, and total marketcap of approximately $20.784 billion. It briefly surpassed Dogecoin to enter the top 10 global Crypto Assets by marketcap. After officially breaking above $1,000 on Sept. 4, ZEC continued to rise, breaking above $1,200 by the morning of Sept. 7 and reaching an intraday high of $1,249.28.
From a historical perspective, Zcash experienced extreme price volatility shortly after its launch in 2016 due to its extremely low circulating supply. The high reached during the 2018 bull run is regarded as the main reference point in modern trading history, making the current price above $1,200 the highest in nearly a decade. Hawkish remarks from FED official Waller drove a recovery in risk appetite across the Crypto market, while ZEC’s weekly rise significantly outpaced the broader market during the same period.
CoinGlass Liquidation $51.25 Million in Short Positions Liquidated Over 24 Hours
CoinGlass data shows that as ZEC broke above $1,200, approximately $56.91 million in leveraged ZEC positions were liquidated over 24 hours, of which approximately $51.25 million were short positions, accounting for the vast majority of total liquidation volume. When ZEC’s rapid price rise caused short-position Margin to become insufficient, exchanges were required to buy back the Assets in the market when executing Liquidation, typically pushing prices higher and creating a chain-reaction short squeeze.
The concentrated Liquidation of a large number of short positions became one of the key forces accelerating ZEC’s upward move over a short period. ZEC futures Open Interest simultaneously exceeded $2 billion, with some statistics reaching approximately $2.3 billion. Twenty-four-hour futures trading volume briefly exceeded $6 billion, indicating that traders significantly increased their leveraged exposure to ZEC during this period
ZCSH ETF Inflows: Key Metrics Since Its Aug. 25 Listing
The background of the Grayscale Zcash ETF (ZCSH) dates back to January 2026, when the U.S. Securities and Exchange Commission (SEC), after nearly two years of investigation, announced that it would not take enforcement action against the Zcash Foundation. The regulatory stance was viewed by the market as an important prerequisite for approval of the ETF application.
ZCSH was converted from the existing Grayscale Zcash Trust on Aug. 25, 2026, and officially listed on NYSE Arca, becoming the first U.S. spot ETF for a privacy coin and inheriting approximately $305 million in existing Assets at listing. Key data as of Sept. 3, 2026, is as follows:
AUM: Approximately $415 million, an increase of approximately $110 million from listing, including the effect of ZEC’s price rise
Actual net inflows: At least approximately $34.4 million since listing, excluding existing Assets and the impact of price appreciation
Single-day net inflows on Sept. 2: Approximately $12.6 million
ZEC holdings: Increased from approximately 387,800 coins at listing to approximately 428,600 coins, an increase of approximately 40,800 coins
The increase in AUM was driven by both new capital inflows and the rise in ZEC’s price and cannot be viewed directly as purely new capital inflows.
Zcash Network Hashrate Rises Above 30 GSol/s
The market enthusiasm surrounding ZEC’s price rise has extended to mining. Zcash network Hashrate rapidly climbed from approximately 25 GSol/s at the end of August, recently surpassing 30 GSol/s and reflecting the addition of more mining equipment to compete for block rewards. However, the increase in Hashrate has not simultaneously increased unit revenue. Bitmain Antminer Z15 Pro, for example, is currently estimated to generate approximately $708 in mining revenue per MWh of electricity, down approximately 3% from about $727 on Aug. 24, indicating that competition among miners for block rewards has intensified as Hashrate rises.
Frequently Asked Questions
What was ZEC’s price and 7-day rise on Sept. 7, 2026?
According to CoinGecko data, ZEC was trading at approximately $1,227.34 on the morning of Sept. 7, with a 7-day rise of 46.9%. It reached a 24-hour high of $1,249.28, had a marketcap of approximately $20.784 billion, and recorded its highest price in nearly a decade since 2018.
What was the scale of short-position Liquidations and futures Open Interest during ZEC’s break above $1,200?
CoinGlass data shows that approximately $56.91 million in leveraged ZEC positions were liquidated over 24 hours, of which approximately $51.25 million were short positions. Futures Open Interest simultaneously exceeded $2 billion, while 24-hour futures trading volume briefly surpassed $6 billion.
What was the listing background and actual net inflow amount of the Grayscale ZCSH ETF?
ZCSH was converted from the Grayscale Zcash Trust on Aug. 25, 2026, and listed on NYSE Arca, becoming the first U.S. spot ETF for a privacy coin. The prerequisite for listing was the SEC’s announcement in January 2026 that it would not take enforcement action against the Zcash Foundation. Actual net inflows since listing totaled at least approximately $34.4 million, with single-day net inflows of approximately $12.6 million on Sept. 2
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