Zcash Passed $1,200 and Every Level We Named Since July, With the ETF We Flagged Doing the Work

Quick Take

1. ZEC trades at $1,223.52, up 47.05% on the week, after reaching a record $1,254.01 on September 6 and clearing $1,000 for the first time since 2016.

2. Grayscale’s spot Zcash ETF, listed on NYSE Arca on August 25 under ZCSH, has reached roughly $463 million in assets, one of the fastest-growing crypto ETFs on record.

3. Short sellers have been the fuel: about $45.32 million in ZEC short liquidations in a single day, the largest of any asset, on top of $34.5 million when price broke $1,000.

Zcash trades at $1,223.52, down 1.69% on the day but up 47.05% across the week, on a session where 88 of the QC 100 constituents declined. Its market capitalization near $20 billion has pushed it past Dogecoin into the top ten.

Live price data via CoinGecko. Total crypto market capitalization sits at $2.63 trillion with Bitcoin at $77,809, essentially flat on the week at plus 0.30%.

How far has Zcash come since this coverage began?

Roughly 161%, and every level named along the way has resolved.

This site published its first structural assessment of Zcash on July 8, when ZEC traded at $469.57. The two markers set then were $440 as the support whose loss would negate the advance and $500 as round-number resistance likely to require multiple attempts. Support never came under threat and resistance cleared. On August 22, with the token at $821.79 after passing $800 for the first time since January 2018, we identified $1,000 as the round number the market had begun openly discussing. That has now been taken as well.