After a few months with Zcash in the spotlight among privacy coins, the picture is starting to change. The recent rally put the asset back on the radar of the media and big trading desks, but it also pushed caution levels higher.
At the same time, part of the traders looking for privacy exposure are moving to newer solutions built directly on high-performance infrastructure, like GhostWareOS ($GHOST) on Solana.
Zcash is still one of the most important names in the market, focused on private payments via zero-knowledge proofs and shielded transactions. But the current rotation of capital suggests that, after a strong rally, some large holders, the so-called whales, are trimming positions in traditional privcoins and looking to rotate into GHOST.
$GHOST: Privacy Stack On Solana
GhostWareOS is a privacy software stack for the Solana network, designed as a set of tools to hide digital footprints. That includes pseudonym management, relay-based routing, metadata isolation, and a clear separation between communication, wallet, and identity layers.
Instead of being a Zcash clone, the project is a full privacy layer embedded in an ecosystem already known for high speed and low fees. That means the goal is not to create an isolated privacy blockchain, but to shield everyday use of dApps, payments, and DeFi applications on Solana.
The idea is that if most of a user’s financial traffic happens on a highly liquid L1, it makes sense for the privacy layer to be native to that same environment, reducing friction and the need for bridges.
From a market perspective, the contrast with ZEC is obvious. While Zcash price is trading today around $520 per coin, with a market cap in the billions of dollars, the GHOST token trades near $0.008, with a capitalization of around $8 million.
In terms of market structure, this still keeps GhostWareOS in the mid/micro-cap range, where relatively small capital flows can trigger larger price moves. Another point attracting attention is the fact that $GHOST is already trading on major data aggregators.
Zcash Price After The Rally
Zcash was created to solve a clear problem: enabling digital payments with strong protection for financial information, using advanced cryptography and shielded transactions. Over the years, ZEC has built a solid track record and an engaged community, plus a dedicated ecosystem of wallets and supporting infrastructure.
The recent rally brought the asset back to the center of the conversation. In November 2025, data from platforms such as CoinMarketCap shows ZEC trading in the $500 range, with a market cap above $8 billion and strong daily volume, while posting drops of around 10% in the last 24 hours after a sharp move up.
In other words, the ZEC price climbed from levels well below $100 to the $500 zone in just a few months, in a pattern typical of short squeezes and aggressive inflows of speculative capital.
When narratives fade, fundamentals decide which privacy stack keeps pulling capital.Why Some Privacy Crypto Whales Are Rotating Into GHOST
For larger traders, the game is rarely binary. It is not about abandoning ZEC, but about adjusting the risk-return curve according to the stage of each narrative. After a move in which Zcash multiplied in price and returned to the radar of big market players, including extremely optimistic calls from analysts and well-known personalities, it is natural for the more attentive desks to start realizing part of their profits and look for new opportunities.
GhostWareOS fits exactly this kind of trading plan. It is a privacy project built on top of an already established L1, focused on protecting metadata and identity instead of only hiding the value being transacted, and it still trades in a low price range per token.
From a narrative standpoint, it is easier for a trader to argue internally that they are shifting part of their privacy exposure from a stretched asset (like ZEC) to a privacy stack on Solana that has not yet fully priced in its adoption potential.
Another factor is usability. While Zcash is discontinuing the zcashd client in 2025 and gradually migrating its node infrastructure to new implementations, Ghost was born already oriented to use in existing dApps, with an emphasis on UX and on routing and pseudonym layers.
This lines up better with the daily routine of users moving capital across DeFi protocols, NFTs, payments, and other applications on the same network, without having to leave Solana to get privacy.
Conclusion
The latest cycle has shown that privacy is far from a dead topic in crypto. The ZEC price finally broke out of years of sideways action. At the same time, solutions like GhostWareOS are starting to capture the attention of traders who want exposure at the intersection of privacy and usability on high-performance L1s.
In a scenario where the Zcash price has already baked in much of the recent optimism and the current level demands much higher volumes to push toward new highs, the strategic move for many whales has been to cut back exposure to assets that have already run and gradually increase positions in privacy narratives that are still in the early stages of price discovery, such as GHOST.
For traders who see privacy as key infrastructure for the next cycle and prefer assets that are already listed and trading, without the uncertainty of presales, GhostWareOS is currently one of the best alternatives.
Source: https://blockchainreporter.net/zec-price-tumbles-new-all-time-highs-unlikely-for-zec-as-whales-rotate-into-ghost/
