Zcash price soars to 7-year high at $370, more gains coming?

Zcash (ZEC) hit a 7‑year high amid growing network activity on its network and a renewed wave of investor interest in privacy coins.

Zcash (ZEC) hit a 7‑year high amid growing network activity on its network and a renewed wave of investor interest in privacy coins.

Zcash price soared over 60% from $230 observed on Oct. 23 to $370.11 on Monday, Oct. 30, before settling at $358.36 at the time of writing. The last time the privacy token hit such levels was in May 2018.

Over the past week, its trading volume jumped from $690 million to nearly $1.65 billion observed as it hit its Monday high, suggesting robust demand from traders. The token’s market cap stood at over $5.85 billion at press time.

Looking at data from CoinGlass, the open interest in the Zcash futures market has surged to a record high of $515.4 million, marking an explosive rise of 1,300% compared to the $36 million recorded just a month ago. Such a spike in OI is a telltale sign of growing speculative activity and heightened trader engagement around ZEC.

Interestingly, despite the surge in price and open interest, the weighted funding rate remains in the red territory, a sign that short sellers continue to dominate the market as they pay fees to longs to hold onto their bearish positions. At the same time, the long/short ratio has flipped above 1, pointing to a shift in sentiment as more traders begin to lean long. This combination could set the stage for a short squeeze, especially if upward price pressure continues to build in the coming sessions.

Zcash price rally can largely be attributed to strengthening fundamentals within the Zcash network. According to the Zcash Dashboard, the total value of shielded ZEC has climbed to a record 4.94 million, worth over $1.76 billion. Shielded coins now make up more than 30% of the total circulating supply.

An increase in shielded ZEC suggests more people are actively using its privacy tools, pointing to broader network usage.

Another major catalyst supporting Zcash’s breakout is its integration into MoonPay, a major fiat‑to‑crypto on‑ramp. 

MoonPay is integrated on Jupiter, one of the largest decentralized liquidity aggregators in the Solana ecosystem; therefore, the launch significantly increases Zcash’s visibility across emerging markets and DeFi-native communities who may prefer permissionless, on-chain trading over centralized exchanges.

Part of ZEC’s gains also stem from a broader resurgence in investor interest around privacy coins, as conversations surrounding on-chain anonymity, censorship resistance, and financial sovereignty continue to gain traction. Peers like Railgun (RAIL), Dash (DASH), and Monero (XMR) have all posted impressive gains over the past month, rising around 203%, 106%, and 13%, respectively.

Zcash price analysis

Zcash has bounced back and remains above a key ascending trendline on the 4-hour chart, a level that’s served as strong support since late September. Historically, each time Zcash price restested this trendline, it was followed by a sharp rally over the following days before profit-taking temporarily halted the momentum.

Momentum indicators are also flashing bullish signals. The MACD line has crossed above the signal line, and the RSI remains elevated above 70, both suggesting that buying pressure continues to outweigh selling and that bulls are gradually regaining control.

For now, ZEC could be gearing up for another leg higher if momentum remains intact. The next key level to watch is $375, a psychological resistance zone that traders will be keeping a close eye on. A decisive breakout above that could lead to a potential move toward $400 in the weeks ahead, up nearly 50% from the current price.