Zcash market cap exceeds $14 billion following ETF launch

Zcash (ZEC) has experienced significant market activity, with its market capitalization rising to over $14 billion following the launch of a spot Grayscale exchange-traded fund (ETF). This institutional development contributed to an 82% surge in the token's value during August.

Technical analysis suggests a mixed outlook for ZEC. While daily charts indicate potential downside risk due to a possible double-top formation, longer-term weekly and monthly trends remain bullish, with analysts eyeing a $900 breakout as a key target.

Accessibility for the privacy-focused cryptocurrency is also expanding through Peer integration. This allows users to purchase and receive ZEC directly through platforms such as PayPal, Cash App, Revolut, and Wise without requiring a dedicated exchange account.

Other privacy-centric assets, such as Monero (XMR), also saw gains in August, driven by increased demand for shielded financial rails amid regulatory scrutiny and macroeconomic uncertainty.