Zcash (ZECUSD) price teleported, rising by 14.5% in 24 hours of trading in the cryptocurrency market on Friday, reflecting investors’ positive sentiment. The coin, a decentralised cryptocurrency which focused on privacy and anonymity, surged to $444.26k on Friday as investors’ appetite got enlarged, riding on regulatory tailwinds and technical upgrades to a 14% daily surge. The rally turned fast and furious after U.S. regulators signalled openness to blockchain privacy solutions. Discussions centered on programmable privacy tech that allows selective data disclosure for compliance while encrypting sensitive details.
The market acknowledged the “remarkable shift” in U.S. regulatory tone toward privacy tech, moving from hostility to recognising its necessity. Cryptocurrency analysts said while the SEC’s pivot reduces existential risks, the ETF catalyst remains speculative. Reduced regulatory risk for Zcash’s shielded transactions – 30% of ZEC supply is now private, making the coin more attractive. Greyscale filed to convert its Zcash Trust – 394,400 ZEC with $199 million in assets under management – into a spot ETF.
Separately, Nasdaq-listed Cypherpunk acquired 233,644 ZEC worth $68 million since November, aiming to hold 5% of supply. Crypto analysts said ETF approval would unlock institutional capital, while strategic buyers reduce circulating supply. ZEC’s 24h turnover (9.9%) shows liquidity to absorb large orders. ZEC bounced from $383 support, reclaiming the 50-day average of $425.
MACD histogram turned positive (+1.03), but RSI (44.8) remains neutral. Still, the rally lacks extreme bullish momentum – 24h volume fell 14.6% to $704M, suggesting caution. However, Fibonacci levels show next resistance at $460.
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