Zcash Could Rise to $420 After 62% Weekly Price Spike, Traders Predict
Zcash (ZEC), a privacy-focused cryptocurrency, surged nearly 62% over the last week and 77% in the past month, trading at around $379.89 as of Friday. Prediction markets now give 60% odds that ZEC will reach $420 in April, a shift from 80% odds against this move just a day earlier. The catalyst for this surge is unclear but coincides with a broader market uptick following a U.S.-Iran ceasefire agreement. The move is not limited to privacy tokens, yet ZEC and DASH (up 48% in the last week) have significantly outperformed others in the category. By comparison, Bitcoin rose 9% and Ethereum 8.5% in the same period. Despite recent gains, ZEC remains 46% below its November peak of $698 and far from its 2016 all-time high of $3,191. A critical vulnerability in Zcash’s node software was patched at the end of March, mitigating significant risks for token holders.
