Zcash (ZEC) moved back above $400 on May 3, reaching that level for the first time since January. Market data cited in the report showed ZEC rising to $424 before easing to around $414, still up nearly 8% over 24 hours and ranking among the strongest large-cap altcoin performers of the day.
The jump lifted ZEC’s weekly gain to about 17%. Over the same period, Dogecoin was the only other high-cap altcoin mentioned with a double-digit advance, at roughly 12%. The broader crypto market added more than $50 billion in total capitalization, but ZEC outpaced most of its large-cap peers.
Rebound from the yearly low narrows the gap with Monero
The recovery has been building since shortly after March 8, when ZEC fell below $200 for the first time since October 9, 2025. From its year-to-date low, the token has now rebounded by more than 100%. Its market capitalization is approaching $7 billion, bringing it closer to Monero (XMR).
The article noted that ZEC had once led the privacy-coin segment by market value, but lost that position after a strong rise in XMR earlier this year. With attention turning back to the privacy theme, ZEC has regained momentum.
Barry Silbert and Raoul Pal add fuel to the move
Public comments from prominent market figures appeared to coincide with the latest rally. On May 3, DCG founder and Grayscale chairman Barry Silbert responded on X to a user comparing the current setup to bitcoin’s price action in 2015. Silbert said that in 2015, the market had no idea there was $2 trillion in demand for a global, decentralized digital store of value like bitcoin, and that people also generally viewed bitcoin as a private way to store and send value. He added that “Zcash will benefit from now knowing better.”
One day earlier, Silbert had also replied to a report saying Brazil banned the use of crypto for cross-border payments. His view was that such a ban is not possible on a cryptocurrency “you can’t see.”
Raoul Pal, founder of Global Macro Investor, described ZEC as bitcoin’s “younger sibling.” Youtube influencer Jesus Martinez took a stronger line, saying, “Zcash will do what Bitcoin couldn’t do.”
Short liquidations pass $10.6 million in 24 hours
The price spike also triggered a wave of forced liquidations. More than $10.6 million in ZEC short positions were wiped out over 24 hours, including a single largest liquidation worth $1.1 million. Long liquidations stayed below $900,000, bringing total liquidations to about $11.5 million.
The move above $400 did more than improve sentiment. It also squeezed bearish positioning hard, adding momentum to the rally as traders watched whether ZEC could keep closing the market-cap gap with XMR.