Zcash price has recovered above $1,100 after falling below that level during the past 24 hours, while remaining well below September’s trading levels.
Summary
- Zcash recovered above $1,100 after a daily low near $1,050, gaining 3.8% over 24 hours.
- CoinGlass recorded $2.29 billion in ZEC open interest and $13.55 million in daily liquidations.
- Shielded balances reached 4.96 million ZEC, up 1% over 28 days despite the price correction.
- Zakura proposed separate viewing keys for Zcash swaps to limit exposure to future quantum attacks.
CoinGecko’s Oct. 19 snapshot put ZEC at $1,135.48, up 3.8% over 24 hours but down 10% over seven days. The privacy coin ranked tenth by market capitalization, with a valuation of $19.29 billion and daily spot trading volume of $1.005 billion.
Zcash price recovers after trading below $1,100
The provider’s daily range stretched from $1,049.90 to $1,186.79. ZEC therefore recovered roughly 8.1% from the low, calculated from the quoted prices, although it remained below the top of that range.
CoinGecko’s historical table records a $1,438.21 close on Sep. 30 and $1,301.16 on Oct. 2. Against the latest snapshot, those levels represent declines of approximately 21% and 12.7%, respectively.
On the same historical series, ZEC closed at $1,365.02 on Oct. 6 before reaching $1,185.85 on Oct. 8. The token later closed at $1,220.53 on Oct. 15 and $1,128.73 on Oct. 18.
CoinGlass recorded $2.29 billion in outstanding ZEC futures positions in its Oct. 19 snapshot, alongside $6.79 billion in daily futures turnover and $538.34 million in spot volume. The derivatives provider reported $13.55 million in liquidations over the same 24-hour period.
Calculated from those figures, futures turnover was roughly 12.6 times spot turnover across the markets tracked by CoinGlass. Its open-interest total measures outstanding contracts, while the daily turnover figures measure trading during the reporting window.
CoinGecko separately displayed a positive eight-hour perpetual funding rate of 0.0089%. The observation does not establish a historical funding trend or identify how positioning changed during the September-to-October correction.
Neither snapshot establishes that a crowded short trade drove the latest bounce. A comparison of funding, open interest, and directional liquidations across matching timestamps would be needed to assess that claim.
U.S. Zcash funds recorded withdrawals during the correction
U.S. fund withdrawals were documented earlier in the correction. In an Oct. 4 report, crypto.news recorded $93.56 million in weekly Zcash ETF withdrawals for the period ended Oct. 2, citing SoSoValue.
The report put daily redemptions at $30.25 million on Sep. 30 and $26.93 million on Oct. 2. Grayscale’s ZCSH had converted from a trust into an exchange-traded product on NYSE Arca on Aug. 25.
A subsequent Oct. 10 weekly ETF report recorded $30.8 million in Zcash fund outflows during Oct. 5–9, citing Farside Investors. Across five tracked cryptocurrency categories, that report put combined weekly withdrawals at $1.29 billion.
The two reports cover different periods and cite different data providers. Their figures are separate observations of fund activity, without establishing how much of ZEC’s price decline resulted from redemptions.
U.S. product applications continued during the selloff. An Oct. 6 report detailed Winklevoss Asset Services’ proposed spot Zcash ETF, which would trade on Nasdaq under WINK and hold ZEC with Gemini Trust Company.
The S-1 registration describes cash-based share creations and redemptions. Authorized participants would contribute or receive dollars, while the proposed fund would own the underlying cryptocurrency. The filing is an application, not evidence that trading has begun.
The registration describes a separate network milestone scheduled after the reporting cutoff. Developers were targeting Nov. 5 for NU7, with a mainnet activation decision expected Oct. 20. As proposed, the upgrade would cut target block spacing from 75 seconds to 25 seconds, while adjusting block rewards and the halving interval to keep issuance over time largely unchanged.
Shielded ZEC balances rose over the past 28 days
Zcash Stats recorded 4.96 million ZEC in shielded pools on Oct. 18, its latest completed day, compared with 4.91 million ZEC 28 days earlier. Its dashboard placed the shielded share near 29.2% of total supply.
According to the tracker, the pool balance was 1% higher over that period. The measure therefore did not show a comparable contraction alongside the token’s falling dollar price.
The tracker derives network figures from its own full node and distinguishes shielded balances from transaction activity. Coins may remain in a pool without moving, and aggregate balances do not reveal individual holders or payment amounts.
Zakura proposes separate viewing keys for swap addresses
Separate research from Zakura addresses the privacy of addresses exposed during cross-chain swaps. In an engineering post, developer Adam Tucker described a design using a separate incoming viewing key for each published swap address.
Tucker identified NEAR Intents as a concern because swap refund and receiving addresses can appear on NEAR’s public blockchain. A sufficiently powerful future quantum computer could recover a viewing key from an exposed address, according to his explanation.
Zakura’s proposed design would limit the information exposed by one recovered key to payments associated with that swap address, while leaving spending authority with the existing account.
“The server never learns which address she asked about,” Tucker wrote, describing the private information retrieval system used to help recover wallet transactions.
The proposal was covered on Oct. 19 as a quantum privacy fix for NEAR Intents swaps. Zakura’s implementation plan says software wallets using its libraries, including Vizor, could integrate the feature in the coming weeks, with hardware wallets following once their firmware supports it.