Key Takeaways
Why did Zcash put on its Sunday best and rally this week?
Well, it seems a certain modern sage of the financial realm, Naval Ravikant, couldn’t help but stick his neck out and declare Zcash as some kind of “insurance against Bitcoin.” Naturally, that sort of endorsement is like a catnip to crypto aficionados and the coin more than doubled faster than you can say “blockchain.”
Will this uptrend keep chugging along?
In the immortal words of every cautious chap at the club: “It might.” If the whole financial privacy song and dance continues, expect more fireworks. But for now, don’t be surprised if it takes a little breather-because what’s a rally without a spot of drama, eh?
On the rather innocuous date of 1st October, Zcash [ZEC] embarked on a thrilling spree, jumping 62% before adding an extra 20% as the press typed away gleefully. The privacy-themed token romped from a humble $53 to a sprightly three-year high of $154.4 on Binance. Bravo, old sport!
The catalyst? None other than Naval Ravikant, who in a moment of sheer brilliance-or madness-dubbed Zcash the “insurance against Bitcoin.” This was in light of the global fervor surrounding CBDCs (fancy for Central Bank Digital Currencies). Because why trust banks when you can trust cryptic code?
He opined thusly:
“Bitcoin [BTC] is insurance against fiat. ZCash is insurance against Bitcoin.”
And if that wasn’t enough to raise a few eyebrows in the crypto saloons, Naval suggested even Satoshi Nakamoto-the mysterious gent behind Bitcoin-would think twice about using Bitcoin himself due to all the nosy surveillance. Privacy, dear reader, is the new black.
Enter Zcash, the knight in encrypted armor fashioned from Bitcoin’s own blueprints, encrypting transactions to shield one’s hard-earned digital loot. Not too shabby.
Bonus points go to some neat technical upgrades recently slotted in, with an upcoming network tweak (NU7) promising quantum-proofing and faster business, just in case the quantum overlords come knocking.
Other privacy coins like Monero [XMR] tried to join the jolly jaunt but, frankly, couldn’t quite match Zcash’s pep. Still, the Futures market is looking a tad frothy-think champagne that’s a bit too fizzy-and could be signaling a chill-out session ahead.
Is Zcash about to catch a cold?
CryptoQuant’s Futures Volume Bubble Map-yes, bubble maps are a thing now-shows Zcash is likely “overheating.” Sounds painful, but it’s just fancy jargon for “we might be near the peak, old bean.” Historically, such readings have been the harbinger of either a cool-off or a nice local top before the tide turns.
The Exchange Flows Are Turning Red (and it’s not from embarrassment)
CoinGlass data paints a picture of some savvy players quietly slipping out with their pockets a bit heavier after the zesty 2x run. About $21 million in Exchange Netflow suggests more selling than hoarding-enough to make your local accountant nod knowingly.
Historically, when weekly exchanges see $20-$30 million in netflow, it’s not the cue for a party-it’s more of a “time to reconsider your dance moves” signal. The late bulls gamboling into the rally risk getting singed if profit-taking steps up.
Still, should Zcash decide to take a polite dip to around $100, savvy chaps might consider this a splendid buying opportunity for the next act-if indeed the rally extends beyond this brief intermission.
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2025-10-02 14:04