Zcash (ZEC) up 110% after Gemini launches ZEC credit card

Zcash (ZEC), a privacy-focused cryptocurrency, saw a spectacular 110% increase in 24 hours following the announcement by Gemini of the launch of a credit card that allows users to earn rewards in ZEC. This initiative, unveiled on May 9, 2026, marks a significant milestone in the integration of private assets within traditional financial services. Already available on major platforms like Coinbase and Kraken, Zcash now expands its ecosystem with an offering accessible to the general public. What Happened Gemini officially launched a credit card offering cashback in Zcash, a first for a regulated financial institution in the United States. According to available data, the price of ZEC rose from $80 to $168 in less than 24 hours, increasing its market capitalization to $10.03 billion. The trading volume over the same period reached $200.03 million. This cryptocurrency, often linked to controversial activities due to its privacy features, has also strengthened its technical credibility. Zcash underwent an audit by Trail of Bits , confirming a security level of 1. Its adoption by institutional platforms like Coinbase and Kraken now facilitates access for professional investors. Why It Matters Gemini’s initiative could boost both institutional and retail demand for ZEC, an asset historically marginalized due to its alleged ties to illegal activities. The integration of ZEC into a regulated financial product like a credit card could help reduce its volatility and enhance the legitimacy of privacy-focused cryptocurrencies. In the long term, if other financial sector players follow Gemini’s lead, ZEC could benefit from a network effect similar to that seen with stablecoins. Gradual adoption by institutions may also encourage regulators to clarify their stance on private assets, particularly regarding compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations. What to Watch Regulator reaction: potential clarification on compliance of ZEC rewards with existing regulatory frameworks. Tracking flows: movements of large wallets could indicate accumulation or profit-taking following this sharp rise. Adoption by other institutions: if other financial players launch similar products, ZEC could see accelerated institutional demand. Price stability: after such a marked increase, a technical correction may occur, although increased adoption could support the price in the medium term. Market perception evolution: greater acceptance of private cryptocurrencies by traditional investors could reduce their association with illegal activities. This dynamic illustrates a growing trend toward integrating cryptocurrencies into conventional financial services, while raising questions about their regulation and public acceptance.