What happened?
Zcash (ZEC) more than doubled in a week during the “Uptober” rally, climbing from about $50 to a peak above $135 and becoming the best-performing major token. Trading volume shot up over 1,100% and shielded transactions increased, suggesting real user activity beyond pure speculation. The surge lifted ZEC’s market cap to about $1.8 billion, its highest since April 2022, though it’s still far below its 2016 all-time high.
Who does this affect?
Traders and investors in privacy coins stand to gain from higher prices and liquidity, while users who value on-chain privacy see renewed attention to zk-SNARK tech. Institutional players and accredited investors may get more exposure through products like Grayscale’s Zcash Trust, which has helped drive confidence and inflows. Regulators, exchanges, and crypto service providers are also affected because tightening AML rules and bans could limit access and listings for anonymity-enhanced assets.
Why does this matter?
The rally signals rising demand for privacy features, which can boost valuations, trading activity, and DeFi integrations as projects add cross-chain and shielded capabilities. Institutional offerings can bring fresh capital and legitimacy, potentially sustaining momentum if adoption keeps growing. At the same time, looming regulatory bans and enforcement risk could produce sharp volatility, delistings, or reduced on-ramps, so the market impact could swing strongly in either direction.