A few days ago, I was saying that the ZEC token was going to rise. I don't know how many people listened, bought, or held onto it—congratulations to you.

In the past 24 hours, ZEC shot up by 16.5%, reaching a high of $388, now stabilizing around $372. Honestly, this momentum doesn't seem like a short-lived rebound. Someone is now asking me: Can I chase it? Will it go up further? My view is simple—rising to $500 is not a problem.

Why am I so confident? It's not just guesswork.

First, institutions and money are flowing in. Coinbase Ventures and a16z led a $25 million investment in the Zcash development lab, which is a significant amount. More importantly, Grayscale—the world's largest cryptocurrency asset management firm—purchased $46 million worth of shielded ZEC. Even the largest Bitcoin mining pool, Foundry, has started supporting ZEC mining. Institutions won't jump in just because of a hot trend; they look at long-term value and application scenarios.

Second, the biggest regulatory hurdle has been cleared. The US SEC just concluded a two-year investigation into the Zcash Foundation, confirming they operate in compliance. For privacy coins, this is like rain after a long drought. Many people previously hesitated to touch ZEC, fearing regulatory crackdowns would label it illegal. Now that this major uncertainty is gone, institutions' concerns about entering are greatly reduced.

Of course, some will say that futures funding rates are negative, and there are large long positions around $305–$306, which suggests a correction might be coming. Indeed, short-term volatility is inevitable; there might be some shakeout to clear weak hands. But look at the bigger picture—the real buying power comes from the spot market, from those institutions holding long-term. Short-term inflows and outflows influence the rhythm but can't change the trend.

Another reality is that privacy coins still face regulatory pressure worldwide, which can't be denied. But from the US perspective, the trend is gradually shifting. As long as the regulatory framework is clear, projects like Zcash with solid technology and a reliable team will be among the first to benefit.

On the technical side, there's no need to say much more. The daily MACD has just formed a golden cross, trading volume has significantly increased, and the MA25 has caught up. From the low of $308 to $388, there was almost no substantial pullback, indicating strong buying. Even a correction to around $350 would be a healthy consolidation and wouldn't affect the mid-term goal of reaching $500.

So, my conclusion is simple: this wave of ZEC isn't a flash in the pan. $400 will be seen soon, and $500 isn't an unreachable target. Whether you can hold onto it depends on your own resolve. $ZEC ‌#加密市场回升