Zcash (ZEC) saw a strong rise over the past 24 hours, successfully breaking above the $1,000 level for the first time in nearly 10 years, specifically since late 2016.
The currency reached a daily peak of about $1,023–$1,050 on September 4, 2026, recording daily gains ranging from 15% to 20%, with trading volume exceeding $1 billion.
Why did ZEC rise like this?
There are several key factors that contributed to this strong rally:
Grayscale spot fund (ZCSH ETF)
Grayscale launched the first U.S. spot ETF for a privacy coin on August 25, 2026. In less than two weeks, the fund's assets تجاوزed $400 million , indicating strong institutional liquidity inflows.Short squeeze
The breakout above $1000 led to the liquidation of about $34.5 to $40 million in short positions, increasing forced buying momentum and pushing the price up rapidly.The privacy narrative in the AI era
Interest in privacy coins has increased as concerns grow over AI-driven financial surveillance. Grayscale reports indicated that Zcash may be part of the solution to this problem.Improved network fundamentals
The network has seen positive technical developments, including miners moving to the modern Zallet wallet and an increase in the percentage of shielded transactions.
Where is $ZEC ZEC now?
The market capitalization has approached $17 billion.
It entered the top 10 cryptocurrencies by market capitalization.
It achieved annual gains exceeding 2300% compared with its level a year ago.
Important notes
The current rally has been supported by institutional liquidity and short liquidations, which makes volatility high. The Relative Strength Index (RSI) also points to overbought levels, which may lead to short-term corrections.
Will the momentum continue?
Everyone is now watching to see whether ZEC can hold the $1000 level as support, or whether we will see profit-taking after this strong rally.
What do you think? Do you believe privacy will be the next narrative in the crypto market?
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