Zcash Price Surge Ignites as OKX Reverses Course on Privacy Coin
The privacy coin sector just got a massive vote of confidence. A powerful Zcash price surge of 10% has rocketed ZEC above $575, making it the top-performing major asset over 24 hours. This explosive move was triggered by a major announcement: global exchange giant OKX is relisting Zcash on its platform. This dramatic reversal comes after OKX delisted ZEC alongside Monero and Dash in early 2024 for compliance reasons. The relisting signals a potential regulatory thaw and has instantly reinvigorated bullish sentiment for the pioneering privacy token.
Why This Zcash Price Surge is a Big Deal
OKX’s decision is a monumental shift for privacy coins. As one of the largest offshore exchanges serving the Chinese-speaking market, its policies carry significant weight. The relisting suggests that Zcash’s compliance-friendly features—like shielded and transparent addresses—are gaining institutional acceptance. Following the news, ZEC skyrocketed to a local high of $601, demonstrating the immense pent-up demand. Spot trading for ZEC/USDT is set to go live on November 24, providing immediate liquidity and accessibility to millions of traders.
Technical Outlook: How High Can ZEC Go?
The Zcash price surge has created a strongly bullish technical setup. The price is now holding firmly above key support and the MACD indicator is approaching a bullish crossover, signaling that selling pressure is evaporating. The RSI is recovering from oversold conditions near the mid-40s, leaving ample room for further upward momentum. If the bullish sentiment holds, the first major target is a breakout above $620. A decisive move above that level could easily propel ZEC toward $700 as the next significant resistance zone. On the flip side, strong support now rests at $550.
My Thoughts
This is more than a pump; it’s a legitimacy restoration for the entire privacy sector. OKX’s relisting could be the catalyst that breaks ZEC out of its long-term slump. It demonstrates that regulated exchanges are finding ways to accommodate compliant privacy features. With institutional players like Grayscale holding a Zcash trust, this could be the start of a sustained rally as liquidity returns. The timing is perfect for a year-end privacy coin narrative.
