Zcash Hits $1,500 as Tax Rules and Liquidations Drive Rally
Zcash (ZEC)
Editor:
Eugene Serbin
cryptoticker.io reported that Zcash traded above $1,500 for the first time since its 2016 launch on September 19, 2026. The asset reached a daily high of $1,590.80 before settling at $1,473.77 on September 20 at 00:49 UTC. Over the preceding twelve months, the price surged 2,913.12 percent, pushing market capitalization to $24.97 billion.
Trading volume over 24 hours stood at $1.15 billion, with 16,940,252 ZEC in circulation. The report highlighted that open interest reached a record $3.47 billion on September 19. This surge was partly driven by liquidations, including a $26.5 million short squeeze in 24 hours and a $48.9 million event earlier in the week.
A single trader reportedly lost an $18.3 million short position after winning 26 trades in a row. For German investors, the timing of acquisition is critical due to Section 23 of the Income Tax Act. Assets held for more than a year are tax-free, while those held for less than a year face personal income tax rates. A draft bill proposes a December 31, 2026 cut-off, which would change tax treatment for future acquisitions.
How the market reacted
Whalio's own Binance spot order flow for ZEC, measured when this story was written up on 20 September 2026. Not the outlet's figures.
Zcash is trading at $1,470.96 on Binance, showing a buy ratio of 45.7% over the last hour and 47.4% over four hours. These short-term figures are slightly lower than the 45.8% buy ratio observed over the past 24 hours. Volume delta indicates net selling pressure, with -$664,234 in the last hour and -$3,290,385 over four hours. The 24-hour volume delta is -$23,839,612, with cumulative volume delta closing at -$24,987,883. Net buying occurred in only 6 of the last 24 hours. This data suggests that immediate buying pressure is fading relative to the broader daily trend.
The latest daily buy ratio of 52.9% sits at the 82nd percentile of the last 322 days, against a median of 50.2% - stronger buying than most days.
Was that an ordinary day?
The same Binance spot measurements for ZEC, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 51.9%, making the current 24-hour ratio of 45.8% notably lower. Spot volume for the day was $292,252,979, which is 0.75 times the weekly average volume. While the coin saw net buying on 6 of the last 7 days, today's volume is below the weekly norm. The price increased by 31.0% over the last eight days, driven by a total volume delta of +$93,718,583. Today's lower volume and reduced buy ratio suggest a cooling off from the intense accumulation seen earlier in the week.