Zcash (ZEC), the privacy-focused layer-1 cryptocurrency known for its shielded transactions and capped supply, has made a swift and impressive recovery following Friday’s historic crypto market crash. The coin not only reclaimed all value lost during the sell-off but briefly touched a recent high of $291 on Saturday before stabilizing around $273 at press time.
The rebound comes after a tumultuous 24-hour period that saw the broader crypto market endure $20 billion in liquidations — the largest single-day wipeout in crypto history. Zcash had plunged by 45%, tumbling from around $273 to $150 after U.S. President Donald Trump announced sweeping 100% tariffs on Chinese imports, sending shockwaves through both traditional and digital markets.
Despite the volatility, ZEC has emerged as one of the few top-performing assets to regain its footing so quickly. It now trades within 5.5% of its local high, outperforming major cryptocurrencies such as Ether (ETH), which remains down roughly 22% from its recent all-time high of $4,957.
Zcash experienced a massive rally in October and is trading at pre-crash levels. Source: TradingView
Zcash’s strong recovery extends its remarkable rally in October — the coin has climbed nearly 4x in just two weeks, rising from $74 on Oct. 1 to its weekend high near $291. Analysts attribute the performance to renewed investor demand for privacy-oriented assets amid global regulatory tightening and geopolitical instability.
“In a market shaken by tariffs, liquidations, and risk aversion, Zcash’s resurgence underscores the resilience of decentralized privacy networks,” said market strategist Elena Volkov. “ZEC’s fundamentals remain attractive to traders seeking protection against surveillance and censorship.”
Trump’s Tariff Shock Triggers Market Chaos
Friday’s flash crash was sparked by two social media posts from President Trump, which reignited fears of a global trade war and sent risk assets into a tailspin.
In his first post, Trump criticized China’s expanded export controls on rare earth minerals — materials critical to semiconductor and battery manufacturing — calling the move “very hostile” and a threat to global supply chains. Over 90% of the world’s rare earth magnets used in electronics, electric vehicles, and defense technology originate from China, according to Reuters.
“I was to meet President Xi in two weeks at APEC in South Korea, but now there seems to be no reason to do so,” Trump wrote, signaling a breakdown in diplomatic engagement.
Hours later, he followed up by declaring a 100% tariff on all Chinese imports, effective Nov. 1, 2025, or earlier — a policy reversal that erased trillions in global market capitalization within hours.
Source: Donald Trump
The sudden escalation triggered panic selling across markets, from equities to commodities and digital assets, culminating in record crypto liquidations and temporary exchange outages.