Zcash Surges Past $1,600 on Europe’s First ZEC ETP Launch
Zcash (ZEC)
Editor:
Eugene Serbin
cryptopotato.com reports that Zcash (ZEC) climbed above $1,600 for the first time since 2016 following the launch of Europe’s first Zcash exchange-traded product (ETP) by 21Shares. The physically backed ETP began trading on Euronext Paris and Amsterdam, allowing investors to gain exposure through traditional brokerage accounts without managing crypto wallets. This listing complements Grayscale’s spot Zcash ETF, which trades on NYSE Arca under the ticker ZCSH, providing regulated investment vehicles in both the US and Europe.
CoinGecko data showed ZEC reaching an intraday high of approximately $1,643 on September 23, with the price settling around $1,600. The asset recorded a 10% gain over 24 hours, a 43% rise over seven days, and a 91% increase over 30 days. Trading volume surged to $1.77 billion, representing a 61.1% increase from the previous day.
Leveraged traders also contributed to the momentum, with Lookonchain noting that trader 0xE34E opened a 50x long position on 140 ZEC worth $224,000. This position generated an unrealized profit of $70,700, marking a 1,581% return. Analyst Ali Martinez identified $1,800 as his next target, citing strong momentum, while trader Picolas Cage predicted a potential rise to $14,000. Conversely, Crypto with Haris ₿ opened a $100,000 short, arguing that the rally relied heavily on short liquidations rather than new buying.
How the market reacted
Whalio's own Binance spot order flow for ZEC, measured when this story was written up on 23 September 2026. Not the outlet's figures.
Whalio’s Binance spot data shows ZEC trading at $1,630.05 with a 24-hour buy ratio of 53.7%, indicating a slight majority of buy-side volume over the full day. However, the 1-hour buy ratio stands at 57.5% while the 4-hour ratio drops to 46.5%, suggesting that immediate buying pressure is stronger than the broader four-hour trend. The 1-hour volume delta is positive at +$2,812,873, contrasting with a negative 4-hour delta of -$12,937,942. This divergence implies that recent trades are favoring buyers, even though the cumulative flow over the last four hours has been net selling. The 24-hour volume delta remains robust at +$34,927,824, with a cumulative volume delta (CVD) of +$7,800,191. Net buying occurred in 15 of the last 24 hours, supporting the current price level.
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, ZEC experienced a 46.8% price increase with a total volume delta of +$100,881,214. The weekly average buy ratio was 50.5%, while the latest day showed a buy ratio 3.2 points higher than that average. Trading volume was 1.14x the weekly average, indicating above-normal activity. This represents an unusual day for the coin, as volume and buy ratios both exceeded their weekly baselines. Only 4 of the 7 days in the preceding week showed net buying, making today’s sustained positive delta notable against a mixed weekly history.