$ZEC Current price $449.05. This price is approaching the historical key high area around $449 set in November 2025. Zcash (ZEC), as the leader in privacy cryptocurrencies, experienced a drastic revaluation from a low (around $35) to a high in the second half of 2025, as the market assesses its long-term value in the interplay of global regulation and privacy demands.
Trading settings
Key buying range: $420.00 - $460.00
Target 1: $520.00
Target 2: $650.00
Target 3: $800.00
Stop loss: below $380.00
Core bullish logic
1. Strong privacy narrative and demand revaluation: In the context of increasing on-chain monitoring and data privacy concerns, the market's demand for privacy protection has been reignited. ZEC, with its optional privacy technology using zero-knowledge proofs (zk-SNARKs), is seen as a 'compliant privacy' solution connecting traditional finance and the crypto world, attracting significant market attention and capital.
2. Substantial technical upgrades and adoption growth: The project continues to iterate on technology, such as the Halo 2 upgrade, which removed trusted setups, enhancing the security and efficiency of privacy transactions. Improvements in user experience (e.g., the launch of the Zashi wallet) have significantly driven the adoption of privacy features, with the number of ZEC locked in on-chain shielded pools reaching an all-time high, accounting for over 27.5% of the total circulating supply, reducing effective market circulation.
3. Favorable halving expectations and scarcity: ZEC adopts a fixed total supply (21 million) and halving mechanism similar to Bitcoin. Its third halving is expected to happen soon, and the block reward will be halved again, with the market's expectation of supply tightening providing significant value support.
Core Risk Warning
1. Severe global regulatory uncertainty: Privacy coins face ongoing and potentially tightening regulatory scrutiny worldwide. Some jurisdictions may implement restrictive policies, leading to the risk of delisting from mainstream exchanges, which is the biggest systemic risk faced by this sector.
2. Dramatic price volatility and high correlation risk: As an asset in the privacy sector, ZEC's price volatility is extremely high. Historical data shows a phase of negative correlation between its price movements and Bitcoin, which may constrain its rise during Bitcoin's strong performance.
3. Intense internal competition in the sector: There is competition among different technical routes within the privacy sector (e.g., Monero's ring signature technology). Although ZEC's 'optional privacy' model has regulatory advantages, it also faces competition from other projects pursuing stronger anonymity.
Market Scenario Analysis
If the price can solidify in the range of $420 - $460 and successfully break through and stabilize at the key historical resistance area of $449 - $450, it is expected to open up new upward space and attract trend funds to further push prices higher, testing targets of $520 or even higher. On the contrary, if it continues to be blocked at this key position, it may trigger a deep correction, and one must be alert to the risk of falling towards the support level of $380 or even lower.