Zcash’s buzz spiked by 6.8x, but is there any real weight to it?

Zcash [ZEC] is everywhere again right now, but is anything actually happening? Here’s what we know.

ZEC’s rally is real, but…

In a recent X post, Santiment noted that ZEC’s social volume hit a one-month high on 17th September. However, what’s interesting is that it may not have been organic buzz.

In fact, X mentions went up 6.8x their usual pace, while every other platform barely moved by around 1.7x. That carried X’s share of all ZEC chatter from 59% to 85% in a single day!

And, it gets even more strange. A lot of them seemed pretty fake, with a similar cadence.

Here’s the thing though. The fact that the noise was manufactured did not matter, with a massive surge for the token on the price charts.

That was helped by a recent vote of the coinholders, on the NU7 upgrade. Turnout was at 66% and eligibility was locked to shield ZEC held in the Ironwood pool as of block 3,459,350. There was no revealing as to who voted, or how much.

The results were lopsided on most fronts: 98.9% voted to keep Bitcoin-style halvings over smooth issuance, alongside faster 25-second blocks and killing off the legacy Sprout pool.

The one real split was over when miner fee-recycling should kick in. Coinholders picked February 2031, while advisory panels wanted it done ASAP.

Grayscale’s privacy bet

Using Google’s Ngram data, Grayscale recently revealed two spikes in the phrase “financial privacy” showing up in English-language books.

One was in the late ’70s tied to the rise of computerized recordkeeping, and a bigger one around 2000-2003 as online banking took off.

Both times, new tech made people nervous. Both times, that anxiety showed up in the data… before fading.

The argument is that we are perhaps at the edge of a third wave; this time with AI agents and stablecoins. If history repeats itself, ZEC will be in the thick of it.

Zcash: Overbought or just getting started?

ZEC went from around $500 to a recent high near $1,600 in under a month. At the time of writing, it seemed to be slowing down slightly.

The RSI was technically overbought, but it’s been near that zone for days without pullback. The MACD was still climbing though, and not rolling over.

Will Grayscale’s privacy thesis play out? Only time will tell. However, it seems the market isn’t done arguing about it yet.

Final Summary

• Zcash’s social buzz spiked 6.8x on X alone, but most of it didn’t look organic.
• ZEC still rallied, thanks to a major protocol vote and Grayscale’s privacy thesis.