Zcash hits highest price since 2016 as market cap tops $20B

The ETF conversion is the clear catalyst here, marking a structural shift in accessibility for institutional capital. The move above $20B market cap signals renewed relevance for a privacy coin that has long lagged the broader market. The key question is whether this liquidity event can sustain momentum beyond the initial conversion-driven inflow, or if it represents a one-time repricing. Watch whether trading volumes and custody flows remain elevated as the market digests this new vehicle.