The cryptocurrency Zcash was once very popular. Even in 2021, it experienced significant price movements and attracted investor attention. Subsequently, a four-year period of silence followed, during which most of the market almost forgot about it. However, the situation is now completely different. Since this summer, according to TradingView data, Zcash has risen by 600%, reaching its highest price levels since November 2021.

Cryptocurrency ZEC receives trust from Grayscale

The first factor that recently supported ZEC’s growth is a new investment product, the Grayscale Zcash Trust ($ZCSH). This product allows investors to gain exposure to Zcash (ZEC) without directly buying or holding the cryptocurrency, according to a report by CoinMarketCap.

Through $ZCSH, investors can use traditional accounts, similar to stock purchases, with the share price tracking ZEC’s market value minus fees and costs. Zcash is known for its focus on privacy and security, allowing sending and receiving funds without revealing transaction details. Grayscale thus brings this private cryptocurrency into a regulated and accessible investment format.

Buy ZEC

Cryptocurrency ZEC and use in shielded pools

Another positive factor, according to Cryptopolitan, is the growing trend of using shielded pools, which allow holders to privately store and use ZEC without publicizing transactions. Recently, an additional 959 ZEC was added to these shielded pools, setting a new record.

Overall, approximately 1,000,000 ZEC entered shielded pools over the past three weeks. Moreover, these coins were not sold on exchanges, indicating a preference for accumulation over short-term profit. Shielding encourages long-term holding and use of ZEC in the DeFi environment, with coins also usable on Solana.

Get 100 $ bonus on Binance

Other factors supporting the rise

Now, let’s look at additional factors supporting ZEC’s growth:

• ZEC integration on the decentralized exchange ThorSwap, enabling anonymous swaps between Zcash and major altcoins (Bitcoin, Ethereum, Solana).
• Introduction of perpetual futures contracts on ZEC/USDT with 5x leverage on Hyperliquid, with derivative volumes increasing by hundreds of percent.
• Specific features of Zcash, transaction anonymity through zk-SNARKs technology, which increases its attractiveness for private users and DeFi projects.