Zcash Extends Explosive Rally with 83% Daily Surge

ZEC, one of the market’s leading privacy-focused cryptocurrencies, surged 83% in the past 24 hours, cementing its place as the day’s top performer. The rally extends a week-long climb of more than 150%, far outpacing other privacy tokens and lifting ZEC to multi-year highs.

The surge followed the launch of Grayscale’s Zcash Trust, which gives accredited investors exposure to ZEC without requiring direct ownership. The product has sparked strong demand and fueled momentum across the market.

Signs of Overheating as Social Dominance Climbs

Despite the bullish momentum, on-chain indicators suggest caution. Data from Santiment shows ZEC’s social dominance has reached 1.21%, its highest level in five years. Elevated social chatter often signals crowd-driven euphoria, which historically has preceded sharp corrections.

Funding rates add to the uncertainty. Across major exchanges, ZEC’s aggregated funding has oscillated around neutral levels, reflecting a lack of directional conviction. This volatility suggests speculative positioning may be driving the rally rather than sustained conviction among long-term investors.

ZEC Hits $146, Momentum Remains Strong

At the time of writing, Zcash is trading at $146 after a strong four-week climb. The token is up more than 450% year-over-year, outperforming Bitcoin, Ethereum, and every other top 100 crypto asset. ZEC is also trading comfortably above its 200-day moving average, signaling robust technical strength.

Market sentiment remains firmly bullish, with the Fear & Greed Index at 64, placing traders in the “Greed” zone. Consistent upward pressure has driven ZEC to 18 green days over the last month, underscoring the strength of demand.

Key Levels to Watch

Whether ZEC consolidates or corrects now depends on market sentiment. Immediate support sits near $134, while a deeper pullback could test $112. On the upside, continued buying momentum may push prices beyond resistance at $161, opening the door to further gains.

The coming days will determine whether Zcash sustains its position as one of the year’s top performers or succumbs to overheating risks.