Zcash Returns To OKX Amid 1200% Price Surge, But Is A Crash Coming?

Key Takeaways

• OKX is relisting Zcash less than a year after removing it.
• Regulatory pressure on privacy coins contributed to Zcash’s earlier removal.
• Zcash has surged more than 1,200% in three months.

Zcash (ZEC) is set to return to crypto exchange OKX today amid a massive price surge, less than a year after the platform removed the privacy-focused token during a broad delisting in January.

The relisting follows a sharp rebound in ZEC’s price, with the token rising more than 1,200% over the past three months; however, analysts have warned of a potential impending crash.

Why Did Zcash Get Removed?

OKX removed Zcash from its platform in early January as part of a wider delisting of privacy-focused crypto.

The exchange stated at the time that 20 trading pairs would be removed by Jan. 5 after failing to meet its listing criteria, without providing further details.

The delisting followed increased regulatory scrutiny of privacy coins.

As governments tightened oversight of anti-money laundering (AML) requirements, several exchanges removed assets such as Zcash to reduce potential legal and operational risks.

Zcash has not been available for spot trading on OKX since the removal earlier this year.

What Is Zcash and Why Is It Popular?

Zcash is a privacy-focused cryptocurrency that uses zero-knowledge (zk) proofs, known as zk-SNARKs, to allow users to conceal transaction details.

While Bitcoin records all addresses and amounts publicly on its blockchain, Zcash gives users the option to shield this information.

Some analysts, including VanEck’s Matthew Sigel , have noted an increasing interest in Zcash among long-time Bitcoin holders evaluating alternatives with stronger privacy protections.

Zcash has also attracted attention for research into potential quantum-resistant encryption, which some investors view as a precaution against future cryptographic vulnerabilities.

These features have contributed to Zcash’s appeal for users and institutions seeking greater privacy than is available on fully transparent blockchain networks.

OKX Relisting: Key Details

OKX announced that it will relist Zcash on Monday and reopen full spot-market support, following its significant price increase.

According to the exchange’s notice:

• Deposits opened: 05:45 UTC, Nov. 23.
• Pre-open session: 11:00–12:00 UTC, Nov. 24.
• Spot trading (ZEC/USDT): 12:00 UTC, Nov. 24.
• Withdrawals: 14:00 UTC, Nov. 24.

OKX said index-based price-limit rules will apply during the pre-open and trading phases.

Price Performance

Zcash has risen sharply in the months leading up to the relisting.

According to CoinGecko data , ZEC is trading at around $537 at the time of reporting, up more than 1,200% over the past three months.

The token reached levels above $600 earlier in the month before easing slightly as traders took profits.

However, Zcash’s recent rally has prompted caution from some market analysts.

CCN’s Valdrin Tahiri said the latest surge may be nearing exhaustion, noting that “the most likely wave count suggests a bearish trend.”

Tahiri argues that ZEC’s long-term Elliott Wave structure appears to have completed.

According to his analysis, “ZEC has completed a W-X-Y structure since March 2020, and wave Y has ended, as evidenced by the sub-wave count (red).”

He added that “sub-wave C had 4.61 times the length of sub-wave A, which is the final extension before the price movement turns bearish.”

These technical levels, he said, indicate that the recent breakout may represent the end of the current cycle.

Tahiri warned that “if the wave count is accurate, ZEC could begin a lengthy decline, similar to the one that…