Zcash Price Jumps 17% After Forbes Names ZEC Among Top Cryptocurrencies to Buy

Zcash (ZEC) has gained roughly 17% over the past week, trading near $545 after earning a place on Forbes’ list of the 10 best cryptocurrencies to buy. The privacy-focused cryptocurrency joined major digital assets including Bitcoin (BTC), Ethereum (ETH), and Hyperliquid (HYPE), highlighting renewed investor interest despite ongoing regulatory and technical challenges.

Forbes said its selection process focused on cryptocurrencies with market capitalizations above $5 billion that also demonstrate either real-world utility or store-of-value potential. Zcash met both criteria, supported by several long-term fundamentals beyond recent price momentum.

One of the biggest drivers behind the rally is tightening supply. On-chain data shows the shielded supply reached a record 5.1 million ZEC by early June, representing nearly one-third of the total circulating coins. Since these tokens are held in shielded addresses, they remain largely outside the liquid market, reducing available supply.

The November 2024 halving has also strengthened the bullish case by cutting Zcash’s block reward from 3.125 ZEC to 1.5625 ZEC, slowing the rate of new coin issuance. Meanwhile, regulatory uncertainty eased after the Zcash Foundation announced that the U.S. Securities and Exchange Commission closed a two-year investigation into crypto asset offerings without taking enforcement action.

Despite these positives, risks remain. In late May, researchers discovered a critical vulnerability in Zcash’s Orchard shielded pool that theoretically could have allowed counterfeit coins to be created. The Electric Coin Company and the Zcash Foundation quickly deployed an emergency hard fork, confirming that no fake ZEC had entered circulation. Even so, the news triggered a 38% price decline before sentiment recovered.

Regulatory concerns also persist. Under the European Union’s Markets in Crypto-Assets (MiCA) framework, exchanges will face restrictions on listing privacy coins beginning in 2027, with several platforms already removing such assets.

While Zcash’s latest rally is backed by stronger fundamentals, including reduced supply, slower issuance, and institutional recognition, its long-term outlook still depends on broader adoption and how privacy-focused cryptocurrencies navigate increasing global regulation.