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Zcash surges 17% to $686, surpassing $11B market cap amid $28M liquidations and privacy coin hype

Market News
21 May 2026
Bitcoin
View Source
Bullish
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Zcash (ZEC), a privacy-focused cryptocurrency, jumped over 17% in six hours on May 20, reaching $686 and pushing its market capitalization past $11 billion, overtaking rival Monero. This rally triggered $28.25 million in liquidations, mostly from short positions, and marked a monthly gain of over 90%. The surge is driven by renewed interest in financial privacy and endorsements positioning ZEC as a leading privacy coin. However, some analysts warn the price spike may be a coordinated short squeeze rather than organic demand. To enter the top 10 crypto assets, ZEC needs to surpass $1,000 to overtake Dogecoin's $16.25 billion market cap.

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