Zcash Hits $1,000 for the First Time in a Decade. How Far Can It Go?

Zcash is seemingly winning this bullish cycle in the crypto market. ZEC is up nearly 100% over the past month, crossing $1,000 for the first time in almost a decade.

ZEC briefly climbed above $1,045 on Friday. The move pushed its market value to roughly $17 billion and brought the privacy coin back to four figures for the first time since the chaotic opening days of trading in 2016.

Those early prices came when very little ZEC was circulating, making them poor comparisons with today's market. So, how far will Zcash go in this cycle?

Why Zcash Suddenly Exploded

Several forces have converged behind the rally.

Grayscale launched its US-listed Zcash ETF in late August, opening ZEC exposure to traditional investors through brokerage accounts. The fund has since attracted fresh inflows while holding more than 400,000 ZEC.

Meanwhile, demand for privacy-focused cryptocurrencies has returned. More ZEC is moving into shielded pools, while recent technical upgrades have made private transactions faster.

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