- Cryptocurrency Zcash has risen in price by more than 60% over the past five days.
- Analysts predict a rise in the exchange rate Zcash up to $420-$440 in the short term.
Over the past five trading days, the cryptocurrency rate Zcash (ZEC) up by 62%, briefly reaching the $390 mark. This made the asset one of the most profitable this week, significantly outperforming Bitcoin and other major altcoins.
The main catalyst for Zcash The announcement of a two-week ceasefire between the US and Iran sparked a surge in risky assets. ZEC reacted with unusual speed and force, partly because overflowing short positions amplified the move. As prices began to rise, traders betting on further weakness were forced to cover, creating mechanical buying pressure in addition to genuine demand.
During the period from April 8 to 9 alone, the Grayscale fund Zcash Trust invested $46 million in ZEC. Over the same period, usage of the secure pool, which ensures complete transaction privacy, reached record levels. The network hashrate also reached an all-time high, indicating real demand rather than purely speculative positioning.
Against this backdrop, crypto analysts predict an increase in the exchange rate. Zcash in the short term. So, CoinBureau set A short-term target of $420, citing momentum and improving fundamentals. Ali Martinez, one of the most popular on-chain analysts in the field, went even further and set a target of $440 based on the technical structure.
Arthur Hayes, also well known in the crypto community, predicts growth privacy cryptocurrency due to its unique advantages.
If you want to remain anonymous, especially in the age of big tech companies, governments, and AI that can de-anonymize transactions and find out who owns a crypto wallet, then you should use a tool like ZcashI think ZEC represents the best form of anonymity, wrote Hayes.
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