Yesterday, it was up 9.9%, leading the top 30 at $ZEC . Today, it climbed another 10%, gaining over 20% in two days to top $1,270.
What happened:
ZEC continued its strong run, trading at around $1,267, up about 11% over 24 hours (quotes from Finnhub, OKX, and Coinhills were broadly in line, ranging from $1,260 to $1,269). The timing is interesting: when ZEC rose yesterday, its spot ETFs had still seen net outflows of around $19 million last week. Today, PANews cited SoSoValue data showing that ZEC spot ETFs recorded $1.6 million in net inflows on October 20 (U.S. time), bringing cumulative net inflows to $154 million. ETF flows have only just turned positive, while the price has already risen for two straight days.
How to read it:
This rally clearly wasn’t driven primarily by ETF buying. It looks more like sentiment in the spot and derivatives markets moving in tandem, with privacy coins making an independent run. BTC is still hovering around $82,700, while ZEC’s 20% gain in two days has brought its late-September all-time high of $1,697 back into view. Two things to keep in mind: First, after a 20% rise in two days, chasing the rally offers less attractive risk-reward, and a pullback could come just as quickly. Second, $1.6 million in ETF inflows in a single day is small relative to the price action, and its staying power remains to be seen—don’t mistake one day’s data for a trend.
Data as of: 2026-10-21 02:48 UTC
Sources: Finnhub; OKX market data; Coinhills; PANews (citing SoSoValue)
Image source: decrypt.co
For informational purposes only; not investment advice.
Would you chase a coin that’s up 20% in two days?
What happened:
ZEC continued its strong run, trading at around $1,267, up about 11% over 24 hours (quotes from Finnhub, OKX, and Coinhills were broadly in line, ranging from $1,260 to $1,269). The timing is interesting: when ZEC rose yesterday, its spot ETFs had still seen net outflows of around $19 million last week. Today, PANews cited SoSoValue data showing that ZEC spot ETFs recorded $1.6 million in net inflows on October 20 (U.S. time), bringing cumulative net inflows to $154 million. ETF flows have only just turned positive, while the price has already risen for two straight days.
How to read it:
This rally clearly wasn’t driven primarily by ETF buying. It looks more like sentiment in the spot and derivatives markets moving in tandem, with privacy coins making an independent run. BTC is still hovering around $82,700, while ZEC’s 20% gain in two days has brought its late-September all-time high of $1,697 back into view. Two things to keep in mind: First, after a 20% rise in two days, chasing the rally offers less attractive risk-reward, and a pullback could come just as quickly. Second, $1.6 million in ETF inflows in a single day is small relative to the price action, and its staying power remains to be seen—don’t mistake one day’s data for a trend.
Data as of: 2026-10-21 02:48 UTC
Sources: Finnhub; OKX market data; Coinhills; PANews (citing SoSoValue)
Image source: decrypt.co
For informational purposes only; not investment advice.
Would you chase a coin that’s up 20% in two days?