Zcash jumps about 30% with $1.6B volume after Multicoin stake reveal, on-chain flows temper rally

Zcash (ZEC) gained about 31.8% in 24 hours and climbed to third on CoinGecko's trending list, trading near $567.37 as of the scan; 24‑hour volume reached roughly $1.66 billion against a market cap of $9.47 billion, a volume‑to‑market‑cap ratio near 17.5% ^[1].

Multiple outlets reported intraday gains in the 30–40% range and linked the move to disclosure of a major stake: The Defiant and CryptoBriefing cited Multicoin’s revealed accumulation since February as coinciding with the surge, while LiveBitcoinNews and Cryptopolitan reported intraday jumps of about 35% and noted strong month‑to‑date gains ^{[2] [3] [4] [5]}.

Observers cautioned that mixed on‑chain flows could temper the rally: AmbCrypto noted strong inflows but highlighted concurrent outflows that may cast doubt on the sustainability of the advance ^[6].

Market participants will be watching trading activity and fund flows for signs of sustained momentum or a reversal, as reporting ties the spike both to institutional accumulation and to mixed flow dynamics ^{[6] [4]}.