**Zcash Price Skyrockets 20% Towards $660 Ahead of Nov. 18 Halving**
The price of Zcash (ZEC) surged 20 percent to $658 following an impressive 200 percent increase over the past 30 days, driven by anticipation of the upcoming halving event scheduled for November 18. This halving will reduce mining rewards to 1.5625 ZEC per block, thereby cutting supply and creating scarcity—similar to Bitcoin’s halving mechanism.
Last year, ZEC experienced a staggering gain of over 1,300 percent, fueled by renewed interest in privacy coins and the halving narrative. Despite the recent price momentum, daily trading volumes dropped 29 percent to $2.3 billion. This decline suggests that traders are holding their positions confidently rather than engaging in speculative frenzy, following heavy buying earlier in the week.
Open interest in ZEC futures rose by 22 percent to $1.12 billion, while futures trading volumes fell by 24 percent, indicating a calmer market environment poised for steady gains.
### Understanding the Halving Scarcity Effect
The upcoming halving will reduce Zcash’s annual supply growth to approximately 3.5 million coins, boosting scarcity and driving pre-halving accumulation. Traders are positioning themselves ahead of potential price increases, with price targets above $1,000 being discussed if the current momentum continues.
Privacy-oriented transactions are also gaining traction. Currently, more than 30 percent of the ZEC supply—approximately 5 million coins—are locked in shielded pools, representing a 60 percent increase over the past month. These shielded pools enable fully private transfers using zk-SNARK cryptography, and their popularity is growing due to user-friendly wallets like Zashi, which facilitate privacy-focused payments.
### Institutional Demand and Technical Outlook
Institutional interest in Zcash is on the rise. The assets under management in the Zcash Trust, managed by Grayscale, have doubled recently to $151 million. This trend signals that regulated investors are returning to privacy assets amid growing global concerns about data security.
From a technical perspective, ZEC’s charts show a strong bullish trend, despite some signs of being overbought. Major moving averages remain well below current prices, with support levels around $550 and resistance between $700 and $720. A breakout beyond this resistance could push prices toward $850 or higher if buying pressure persists.
### Zcash Reenters Top 20 Cryptocurrencies
Zcash has now climbed back into the top 20 cryptocurrencies by market capitalization, boasting a market cap exceeding $10 billion. This rally contrasts sharply with recent declines in larger cryptocurrencies like Bitcoin and Ethereum, highlighting ZEC’s unique position fueled by privacy demand and halving effects.
Overall, Zcash’s surge reflects both increasing real-world usage and a bullish investor sentiment, signaling strong confidence in the asset’s future prospects.
https://bitcoinethereumnews.com/crypto/zcash-news-zcash-soars-20-halving-frenzy-ignites-privacy-coin-rally/
