The privacy coin is currently on one of the most impressive runs in the crypto market, especially among older digital assets. $ZEC has risen 154% in the last 30 days and is up 2,413% on a one-year basis, according to CoinGecko data.
The year-long rally has pushed Zcash’s market cap to $21.62 billion, retaining the privacy coin among the top ten cryptocurrencies.
Three wallets, possibly belonging to the same whale, spent 3,700 $ETH ($9.23M) and 2M $USDC to buy 8,994 $ZEC ($11.23M).
And they’re still buying.
Wallets:
0x83C0a25705E66890A36DFF67a7B4F67ad8cE7Dc1
0x7D38EAe1a032eA08eCA1730480fd81c52f062DCa… pic.twitter.com/6Krfkm7Yvf— Lookonchain (@lookonchain) September 9, 2026
Zcash’s current surge coincides with increased buying pressure from whales, or large holders. According to Lookonchain, three wallets, possibly belonging to the same whale, spent 3,700 $ETH—about $9.23 million—and 2 million $USDC to buy 8,994 $ZEC worth $11.23 million. Lookonchain noted that these wallets are still buying.
In the last 24 hours, Zcash’s open interest has increased 15.47% to $2.91 billion, indicating new money entering the derivatives market. A short squeeze may have also aided Zcash’s rally; about $11.52 million in shorts were liquidated in the last 24 hours, while longs came in at $2.33 million, according to CoinGlass data.
Zcash ETF options trading goes live
Zcash also reached a major milestone with the first options market on a US-listed privacy asset ETP.
Zcash ETF options have gone live on NYSE, according to a recent announcement. Dubbed the world’s only Zcash fund, ZCSH has just surpassed $500 million in AUM, now holding over 550,000 $ZEC.
Grayscale’s Zcash ETF began trading on NYSE Arca under the ticker ZCSH on August 25, giving brokerage investors a way into $ZEC without a wallet.
