Reviewed by Reviewed by Renuka Tahelyani Updated 22:00 EDT October 6, 2026 Share Share Share Back to Top Grayscale is strengthening its bullish stance towards Zcash as institutional attention shifts increasingly towards blockchain privacy. Just recently, the asset manager mentioned that Zcash could continue extending its share of the blockchain privacy market
The privacy narrative is now gaining another platform through Grayscale Head of Research Zach Pandl
Reportedly, Zach is expected to present the “Macro Case for Zcash” at Singapore’s Digital Asset Yield Summit today, 6th October
Pandl’s appearance is expected to bring Zcash’s privacy proposition before an audience focused increasingly on opportunities around institutional digital assets. This development also follows the expanding interest in those cryptocurrencies that mainly focus on privacy as investors reassess their role within the wider market
Notably, that attention arrives as ZEC large holders simultaneously move substantial supply away from trading platforms
According to Lookonchain on an X post, a new wallet withdrew 7,166 ZEC valued roughly $9.67 million from Coinbase within 12 hours. Moving such a considerable position from Coinbase decreased the amount of ZEC tokens immediately available on the exchange
Besides, the spot market activity additionally favoured the underlying demand outlook despite ZEC’s ongoing price correction
In particular, the Spot Taker CVD indicator remained taker-buy dominant at press time, suggesting aggressive buyers continued outweighing sellers across the spot markets. The combination therefore placed the Coinbase withdrawal within a broader pattern of continued spot demand
The bulls were, however, yet to translate that demand into a sustained price recovery
ZEC’s Binance Liquidation Heatmap shows a significant concentration of leveraged positions sitting above its prevailing market price
Notably, the strongest nearby liquidity cluster can be seen around the $1,370 – $1,380 region, introducing a potential liquidity target in case of a price recovery
Besides, further liquidation levels extended above this region, although their concentration became more dispersed towards $1,400. This positioning created considerable overhead liquidity as ZEC price attempted to stabilize following its retracement from recent highs
A rebound from the developing key support could bring the $1,370–$1,380 cluster zone into focus first. ZEC price moving towards this area could trigger short liquidations and potentially validate an initial recovery attempt
Zcash retraced after completing the Elliott impulse wave earlier predicted by AMBCrypto
The earlier setup projected a fifth-wave advance towards the $1,500 price level after ZEC established wave-four support around the $1,054.72 area
Eventually, Zcash [ZEC] price exceeded that target, reaching the $1,600–$1,700 region before a correction developed
Subsequently, ZEC pulled back towards the $1,295 area, where the bulls attempted to establish near-term support
The RSI indicator also cooled to 49.65 following the correction, reflecting weaker buying pressure after the previous overbought conditions
A sustained hold of the $1,295 level could support a relief move toward the dense liquidation cluster around the $1,370–$1,380 region
Losing $1,295 support however could likely extend the retracement towards the order block immediately below, which stretches towards $1,100, providing a deeper structural support
A reaction from this order block could therefore introduce another base for buyers in case the $1,295 support fails
Evans Boto is a crypto-fundamental analyst and journalist at AMBCrypto, specializing in evaluating the intrinsic value and long-term viability of digital assets. He analyzes protocol utility, tokenomics, and on-chain data to cut through market hype and deliver research-driven insights on blockchain, DeFi, and emerging fintech trends
