Grayscale is strengthening its stance toward Zcash as institutional interest in blockchain privacy assets expands. The asset manager has indicated that Zcash could continue growing its share of the blockchain privacy market.
Zach Pandl, Grayscale's Head of Research, is presenting the "Macro Case for Zcash" at Singapore's Digital Asset Yield Summit on October 6th, bringing Zcash's privacy proposition to an audience focused on institutional digital asset opportunities.
On-Chain Activity and Spot Demand
Large Zcash holders are moving substantial supply away from exchanges. According to Lookonchain data, a new wallet withdrew 7,166 ZEC valued at approximately $9.67 million from Coinbase within 12 hours. Despite Zcash's ongoing price correction, spot market activity continues to show strong demand, with the Spot Taker CVD indicator remaining taker-buy dominant at the time of reporting.
Technical Positioning
Zcash's Binance Liquidation Heatmap reveals significant concentrations of leveraged positions above the current market price. The strongest nearby liquidity cluster sits around the $1,370–$1,380 region, with additional liquidation levels extending toward $1,400. These zones represent potential price targets during a recovery.
Zcash recently completed an Elliott impulse wave, reaching the $1,600–$1,700 region before retracing to the $1,295 support level. The RSI indicator moved to 49.65 following the correction, reflecting reduced buying pressure after previous overbought conditions. A sustained hold of the $1,295 level could support a recovery move toward the $1,370–$1,380 liquidation cluster. Loss of this support could extend the pullback toward $1,100, which represents a deeper structural support level.
