Privacy · Privacy
Zcash all-time high and real returns ZEC
A privacy-focused cryptocurrency with optional shielded transactions using zk-SNARKs, giving it a more flexible regulatory profile than always-private coins.
Zcash all-time highs and real returns
In dollars and pounds, before and after inflation, since Nov 2016.
+1,287%Zcash after US inflation since Nov 201630.4% a year
Up 1,825% in dollars since Nov 2016. After US inflation, up 1,287%. Against money printing, up 990%.
In pounds, up 1,715%, or up 1,182% after UK inflation.
- $ nominal
- +1,825%34.7% a year
- £ nominal
- +1,715%34.0% a year
- Real $ (US CPI)
- +1,287%30.4% a year
- Real £ (UK CPI)
- +1,182%29.3% a year
- vs US M2
- +990%27.2% a year
- Measured from
- Nov 2016to Oct 2026, 9 years 11 months
- Zcash, Real $ (US CPI)$1,293.00
- $ nominal$1,293.00
- Oct 2026, latest
Loading the chart. Every figure is also in the table below.
| Period | $ nominal | £ nominal | Real $ (US CPI) | Real £ (UK CPI) | vs US M2 |
|---|---|---|---|---|---|
| Past year from Oct 2025 | +220% | +217% | –a (see note a) | +209% | +205% |
| 5 years from Oct 2021 | +675% 50.6% a year | +701% 51.6% a year | +540% 44.9% a year | +534% 44.7% a year | +602% 47.7% a year |
| Since 2020 from Dec 2019 | +4,597% 75.7% a year | +4,609% 75.7% a year | +3,503% 69.0% a year | +3,458% 68.7% a year | +2,989% 65.2% a year |
| Since Nov 2016 first month in our data | +1,825% 34.7% a year | +1,715% 34.0% a year | +1,287% 30.4% a year | +1,182% 29.3% a year | +990% 27.2% a year |
- a US CPI was not published for Oct 2025.
On month-end closes, Zcash's highest price was $1,438.41 in Sep 2026, which is $1,438.41 in Oct 2026 dollars after US inflation. The latest close of $1,293.44 is 10.1% below the real high. The intraday record, $3,191.93 on 28 October 2016, is higher than any month-end close.
Cycle peaks, falls and recoveries
Month-end highs followed by a fall of 50% or more, and the high that stands today, in Oct 2026 money.
| Peak | $ then | Today's $ (US CPI) | £ then | Today's £ (UK CPI) | vs M2 today | Fall after | Back above, $ | Back above, real $ |
|---|---|---|---|---|---|---|---|---|
| Nov 2016 First month in our data | $67.20 | $93.27 | £53.84 | £76.25 | $118.71 | −59.8% low Feb 2017 | 5 months | 5 months |
| Dec 2017 Cycle peak | $517.67 | $703.42 | £382.64 | £523.80 | $870.14 | −96.0% low Jun 2024 | 8 years 5 months | 8 years 8 months |
| Sep 2026 All-time high | $1,438.41 | $1,438.41 | £1,084.20 | £1,084.20 | $1,438.41 | −10.1% low Oct 2026 | Not yet | Not yet |
Return since our first month and since each cycle low
From the month-end close in the first column to Oct 2026.
| From | $ then | $ nominal | Real $ (US CPI) | Real £ (UK CPI) | vs US M2 |
|---|---|---|---|---|---|
| Nov 2016 First month in our data | $67.20 | +1,825% 34.7% a year | +1,287% 30.4% a year | +1,182% 29.3% a year | +990% 27.2% a year |
| Feb 2017 Cycle low | $27.00 | +4,691% 49.2% a year | +3,384% 44.4% a year | +3,098% 43.1% a year | +2,649% 40.9% a year |
| Jun 2024 Cycle low | $20.94 | +6,077% 485.4% a year | +5,693% 469.6% a year | +5,409% 457.4% a year | +5,476% 460.3% a year |
Every month ZEC closed at a new high
8 month-end closes above every earlier one
| Month | Close, $ | Today's $ (US CPI) |
|---|---|---|
| Sep 2026 | $1,438.41 | $1,438.41 |
| Aug 2026 | $848.10 | $848.10 |
| May 2026 | $569.01 | $568.77 |
| Dec 2017 | $517.67 | $703.42 |
| Jun 2017 | $339.00 | $463.59 |
| May 2017 | $231.36 | $316.68 |
| Apr 2017 | $72.49 | $99.31 |
| Nov 2016 | $67.20 | $93.27 |
How these figures are worked out
Sources, inflation measures and what is left out
- Month-end closes from Kraken, Binance, Nov 2016 to Oct 2026. Oct 2026 is still in progress, so its figure is the latest close rather than a month-end. Our history for Zcash starts in Nov 2016, so longer windows are left out.
- Real figures divide by US CPI (BLS, via FRED) or UK CPI (ONS, joined to the ONS long-run RPI before Jan 1988) and are stated in Oct 2026 money. The M2 lens divides by the US M2 money supply (Federal Reserve, via FRED). Pounds convert at each month's GBP/USD rate.
- US CPI is published with a lag: Oct 2026 uses the Aug 2026 figure.
- UK CPI is published with a lag: Oct 2026 uses the Aug 2026 figure.
- US M2 is published with a lag: Oct 2026 uses the Aug 2026 figure.
- A return of 12 months or more also shows its yearly rate. Gaps in a source are left as gaps and never filled in.
Zcash at a glance
- Up 1,825% in dollars since Nov 2016, up 1,287% after US inflation
- Up 990% against the US M2 money supply since Nov 2016
- 10.1% below its highest month-end close in today's money (Sep 2026)
- Zcash is at $1,222.94, 62% below its $3,191.93 all-time high
- Bargain Score 61.2 out of 100, in the Mild discount zone
Key numbers
- Market cap $20.8bn Rank 10
- 24-hour volume $968.1m
- 7 days -9.4%
- 30 days +13.8%
- Circulating supply 17.0m Of a maximum 21.0m
- Risk level Low
- Listed on 4 of 5 Coinbase, Binance, Kraken, Robinhood
Why it sits in this zone
Zcash is in the Mild discount zone with a Bargain Score of 61. Two or more of the looser buy-side conditions are met (Price 62% below ATH, greed high and shorts crowded), which puts it on the discount side of the scale without the full set of signals behind it. ten years after its October 2016 peak of $3,192, Zcash is 62% lower, which is in the range where the model's distress measures start to count heavily.
What drives the score
The largest weighted part of the score is price distress, at 0.69 out of 1, while market sentiment contributes least at 0.29. The model counts Zcash as a multi-cycle survivor, which gives it the highest starting point when estimating the chance of a new all-time high; that chance is currently rated High. Privacy coins have their own cycle drivers, including delistings and regulation, that can outweigh the wider market.
Where the cycle targets come from
The cycle targets of $3,352, $3,671 and $4,150 are anchored to the previous all-time high, because a reduced repeat of Zcash's past range would not reach it, so the low scenario sits just above the old high, a 174% move from today's price.
Zcash: questions people ask
What was Zcash's all-time high in today's money?
Zcash's highest recorded price was $3,191.93 on 28 October 2016, from CoinGecko's record of intraday trades. Restated with US CPI to Oct 2026, that is $4,423.27 in today's dollars. In pounds it was £2,613.77 at the time, or £3,708.86 after UK inflation.
On month-end closes, which is what our tables use, the peak was $1,438.41 in Sep 2026, worth $1,438.41 today. The latest price is 10.1% below the real high.
Has Zcash beaten inflation since Nov 2016?
Our monthly history for Zcash starts in November 2016. Since then it is up 1,825% in dollars and up 1,287% after US inflation, so it has beaten inflation over that stretch. Measured in pounds after UK CPI the figure is up 1,182%. Against the US M2 money supply it is up 990%.
How long did Zcash take to recover from past crashes?
After the Nov 2016 peak of $67.20 it fell 59.8% by Feb 2017, and closed above the old high again after 5 months. In real terms it took 5 months. After the Dec 2017 peak of $517.67 it fell 96.0% by Jun 2024, and closed above the old high again after 8 years 5 months. In real terms it took 8 years 8 months.
These use month-end closes, so intraday highs and lows were more extreme.
How far is Zcash below its all-time high?
Zcash is 61.7% below its all-time high of $3,192, which it set on 28 October 2016, and its all-time low is $16.08, from July 2024. Getting back to the high from today's price of $1,223 would take a rise of about 161%. These figures come from CoinGecko and refresh every five minutes.
What is Zcash's Bargain Score?
The Bargain Score is 61.2 out of 100 (Meaningful discount). It combines the discount from the previous high, market sentiment, momentum and the coin's track record across past cycles. On our zone scale that places Zcash in the Mild discount zone: Price 62% below ATH · greed high · shorts crowded. This describes current conditions; it is not a recommendation.
What do the Zcash cycle scenarios assume?
Low cycle target $3,351.53 (Previous ATH + 5% (the model’s cycle multiple lands below the previous high).). Base cycle target $3,670.72 (Previous ATH + 15%: a return to the previous high (the model’s cycle multiple lands below it).). High cycle target $4,149.51 (Previous ATH + 30% (the model’s cycle multiple lands below the previous high).). Each is the price the coin would reach if a smaller version of its past cycle repeated, not a loss case. They come from a model of past cycles and can be badly wrong.
How fearful is the crypto market right now?
The Crypto Fear & Greed Index reads 62 (Greed). Low readings mean fear, high readings mean greed. The Bargain Score uses it as one input, because past cycle lows tended to arrive during extreme fear.
What zone is Zcash in today?
The model places Zcash in the Mild discount zone on a Bargain Score of 61, a partial set of buy-side conditions led by Price 62% below ATH, greed high and shorts crowded. Rather than a recommendation, the label is a reading of where Zcash's price and the wider market sit against the model's rules at this moment, and because the Fear & Greed value and the daily RSI both update at midnight UTC, just after midnight is when it is most likely to change. The 3-dot meter beside it shows where that zone sits on the five-step scale, from one dot for Expensive to five for Deep discount.
How long have Zcash's past recoveries taken?
Zcash has had two earlier falls of 50% or more in our price history: after its $74.59 peak in December 2024 it fell 61% and took 10 months to close above that level again, in October 2025; after its $699.00 peak in November 2025 it fell 72% and took 9 months to close above that level again, in August 2026. Those are the only data points we have for this coin, which is too few to say anything reliable about the next recovery, since market conditions, supply and competition are different each cycle and some coins never regain a previous high.
What are the cycle targets for Zcash?
The model starts from Zcash's full range, its all-time high of $3,192 divided by its all-time low of $16.08, which is roughly 199-fold. It shrinks that multiple with a decay factor, on the assumption that each cycle is smaller than the last, and applies it from the low. For Zcash that reduced repeat would not reach the old high, so the targets are anchored just above it instead, at $3,352, $3,671 and $4,150, which puts the low scenario 174% above today's price. They describe what a reduced repeat of the past would look like and say nothing about whether that will happen. Cryptoassets are high risk, and you should be prepared to lose all the money you put into them.
Why does Zcash have a Bargain Score of 61 but sit in the Mild discount zone?
Because the score and the zone measure different things. The score blends price distress, sentiment, positioning, resilience and supply into one number, while the zone checks whether specific conditions line up, such as Fear & Greed crossing a threshold or the RSI reaching oversold or overbought levels. With Fear & Greed at 62 (Greed) and Zcash's RSI at 34, not enough of the buy-side conditions are met to move Zcash further up the scale.
Important information
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
Cryptoassets are largely unregulated in the UK, so you are unlikely to have access to the Financial Ombudsman Service or the Financial Services Compensation Scheme if something goes wrong. Educational information only, not financial advice. Read our disclaimer.