ZEC has gained more than 10% in 24 hours, and its market value is close to US$20.2 billion.
In the past 24 hours, Zcash ($ZEC) price has risen 10.25%, trading at close to US$1,195. The rally raised its market value to US$20.16 billion, ranking 10th in the CoinMarketCap rankings, behind Dogecoin and Monero. Trading volume reached US$1.4 billion during the same period.
The weekly increase was relatively moderate, at 2.66%. Prices had fallen back to around $1,000 on Friday before steadily recovering. The current circulation supply is 16.86 million ZECs, and the hardtop limit is 21 million. This design mechanism is similar to Bitcoin.
ZEC ushers in an extraordinary year
The latest gains are part of a larger market. In the past year,$ZEC has soared by approximately 2,496%, and its market value ranking has jumped from 82nd to the current top ten. Today, ZEC accounts for approximately 62% of the total market value of the entire privacy sector.
This rebound was driven by multiple catalysts. The Zcash ETF launched by Grayscale went online on August 25 and quickly attracted institutional attention. According to Coinbase data, the fund managed nearly $700 million in assets in the first two weeks of trading. In addition, regulatory uncertainty eased in January 2026, when the U.S. Securities and Exchange Commission (SEC) ended its investigation into the Zcash Foundation without recommending enforcement action.
In terms of network technology, the Ironwood upgrade introduces a new shielded pool to address previously disclosed security vulnerabilities. On the first day of the upgrade, approximately 176,000 ZECs were migrated to the new shielded pool. Currently, about 30% of ZEC supply is stored in blocked addresses, a figure that analysts point out reflects true adoption rates rather than short-term speculation.
Privacy coins lead differentiated markets
The broader privacy coin sector has become one of the strongest performing categories in the cryptocurrency market. According to Glassnode data, since Bitcoin peaked in October 2025, the sector has risen by 213%, becoming the only major cryptocurrency category still above that high. In contrast, Bitcoin itself is down about 36% from its October 2025 high, while the median decline for the top 200 crypto assets is about 58%.
Even if Zcash is completely excluded, the rest of the privacy coin basket has increased by 85% over the past year, with Monero, Dash and Zen all reporting significant gains. Among the top 200 crypto assets, only 25 assets are in the positive annual return range, which makes $ZEC's performance particularly prominent.
Risks remain. Short squeeze amplified some of the gains, with analysts pointing out that leveraged positions could lead to sharp reversals. The quantum security upgrade planned for the second half of 2026 adds a long-term technology narrative, although complex cryptographic upgrades also come with execution risks.

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