Foreign media reports indicate that Zcash's token, ZEC, has continued its recent upward trend, showing a clear divergence from Bitcoin. The report cites market data showing that since June 2025, ZEC has seen a cumulative increase of over 1000%, while Bitcoin has underperformed during the same period, and the correlation between the two has fallen to a low level.
Bitcoin retreats, ZEC continues its strong performance
The report noted that Bitcoin's momentum weakened after testing the $79,000 to $85,000 resistance zone on May 11, subsequently falling by about 21%. In contrast, ZEC rebounded quickly after briefly following the broader market trend, recovering about 36% from near its 20-day moving average.
Judging from the price action, the market has not simply viewed ZEC as an asset that moves in tandem with Bitcoin. Foreign media believe this divergence indicates that ZEC's recent trading logic is driven more by its own events than by the overall market trend.
The SEC's conclusion of the investigation is seen as a direct catalyst.
The report suggests that the most direct catalyst came from the regulatory front. In May of this year, the U.S. Securities and Exchange Commission officially concluded its investigation into the Zcash Foundation without taking any enforcement action. For Zcash, which has long been under regulatory pressure regarding privacy coins, this development significantly alleviated market concerns.
Foreign media reports indicate that regulatory uncertainty has historically been a major drag on privacy-oriented crypto assets. With the investigation concluded, some funds have begun to reassess ZEC's risk premium, contributing significantly to its continued price increase.
Development progress and cash flow provide joint support
In addition to regulatory news, progress in network development is also seen as a supporting factor. The report mentions that Zcash developers recently released a critical security patch for Zebra nodes, completing the fix before the risks escalated, thus boosting market confidence in the network's technological foundation.
Meanwhile, ecosystem development has not slowed down. Some developers who were originally attached to core organizations have begun to drive independent projects and applications, allowing the web development landscape to continue to expand. Foreign media believe that this has shifted the market narrative from "survival pressure" to "growth expectations."
- The proportion of wallets holding more than $1 million worth of ZEC has increased significantly.
- ZEC-related open interest increased by approximately 16% in the last 24 hours.
- Open interest rose to approximately $982 million.
Based on this, the report concludes that ZEC's recent surge is not merely a short-term rotation of funds, but rather the result of a combination of regulatory progress, development activities, and large-scale capital inflows. If these catalysts continue, ZEC's subsequent price movement may still follow a different rhythm than Bitcoin.
