Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Zcash Skyrockets 146% in a Week as Grayscale Ignites Frenzy

Zcash Skyrockets 146% in a Week as Grayscale Ignites Frenzy

Coindoo2025/10/02 21:57
By:Coindoo
Zcash Skyrockets 146% in a Week as Grayscale Ignites Frenzy image 0

Zcash (ZEC) has staged one of its strongest rallies in years, climbing to $147.90 on Thursday after surging more than 57% in just 24 hours and over 146% in the past week.

The move pushes ZEC to its highest level since mid-2022, vastly outperforming the broader cryptocurrency market.

The sudden breakout was ignited by Grayscale’s introduction of a dedicated Zcash Trust, which opened to accredited investors via private placement. Early figures show the product has already amassed over $46 million in assets under management, with a net asset value per share of $9.70. The development marks a significant institutional step for ZEC, placing it alongside other digital assets in Grayscale’s expanding trust lineup.

Technical Breakout Above Major Resistance

ZEC’s latest surge shattered the $120 resistance and decisively broke through the 61.8% Fibonacci retracement level at $111, measured from its $372 peak in May 2021 down to the July 2024 low of $15. Analysts suggest that holding above this threshold leaves the door open for an advance toward the 78.6% retracement near $189.

Zcash Skyrockets 146% in a Week as Grayscale Ignites Frenzy image 1

Momentum indicators confirm the bullish setup. The daily Relative Strength Index ( RSI ) has soared to 92.6, placing ZEC deep into overbought territory, while the MACD shows accelerating upside momentum with its histogram turning increasingly positive.

Derivatives Activity Hits Record High

Data from CoinGlass shows that Zcash Open Interest (OI) has skyrocketed by more than 138% within 24 hours, now standing at $144 million. The influx of leveraged positions underscores the influx of capital chasing ZEC’s rally, adding fuel to the parabolic move.

Meanwhile, Zcash’s market capitalization has swelled to roughly $2.36 billion, securing its place among the top gainers of the week. The rally has also inspired strong moves across other altcoins such as DeXe (DEXE) and MYX Finance (MYX), both of which have posted double-digit percentage gains.

What Comes Next for ZEC?

If ZEC can maintain its footing above $120, analysts see $189 as the next major target. However, traders warn of potential profit-taking after such a sharp move. On the downside, a fall below $111 could trigger a retest of $100, with deeper support around $76, corresponding to the 50% Fibonacci retracement level.

With a mix of institutional adoption, surging derivatives activity, and strong technical momentum, Zcash has reemerged as one of the most explosive altcoins heading into October.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Hyperliquid News Today: Hyperliquid's HYPE Token Unlock: Will Clearer Governance Mitigate the Threat of Selling Pressure?

- Hyperliquid's 2025 HYPE token unlock (2.66% supply) sparks market stability concerns amid 23% monthly price drop. - Community tensions rise over unlock transparency, with experts warning verbal assurances cannot counter sell-pressure risks. - Weak technical indicators (34 RSI, $35.50 support level) highlight fragility despite $259B monthly trading volume. - Institutional partnerships (BlackRock, Stripe) bolster credibility but governance controversies persist over decentralization. - Future trajectory de

Bitget-RWA2025/11/30 17:46
Hyperliquid News Today: Hyperliquid's HYPE Token Unlock: Will Clearer Governance Mitigate the Threat of Selling Pressure?

Dogecoin News Today: Despite the Meme Craze, Dogecoin Fails to Attract Institutional Investors as ETF Lags Behind

- Dogecoin (DOGE) stabilized near $0.1495 in late November 2025, with whale activity at a two-month low and price consolidation between $0.1476–$0.1499. - Key support at $0.13–$0.15 (aligned with 200-period MA) shows steady accumulation, while elevated holder counts signal long-term investor conviction. - Grayscale's GDOG ETF underperformed expectations with $1.8M inflow, contrasting Solana/XRP ETF success and highlighting Dogecoin's institutional appeal struggles. - Broader market shifts, including Solana

Bitget-RWA2025/11/30 17:46
Dogecoin News Today: Despite the Meme Craze, Dogecoin Fails to Attract Institutional Investors as ETF Lags Behind

The ICP Network’s Steady Rise: How Decentralized Infrastructure is Surpassing Conventional Technology

- ICP Network's 2025 Q3 revenue surged 30% driven by AI tools, partnerships, and a hybrid cloud model with 50% increased computing capacity. - Traditional cloud giants AWS and Azure maintain 67% market share but face stagnation risks from decentralized alternatives offering 80% cost reductions and outage resilience. - $760M U.S. DOE grants accelerate DePIN growth, enabling blockchain-based compute marketplaces that outperform centralized systems in scalability and adaptability. - Modular ecosystems like Ac

Bitget-RWA2025/11/30 17:46
The ICP Network’s Steady Rise: How Decentralized Infrastructure is Surpassing Conventional Technology