ZEC(Zcash)24 hours pump 9.40%

Gate News Bot news, October 20, according to CoinMarketCap data, as of the time of writing, ZEC( Zcash) is currently priced at $238.15, with a rise of 9.40% in the last 24 hours, reaching a high of $276.77 and a low of $188.17, with a 24-hour volume of $519 million. The current market capitalization is approximately $3.875 billion, an increase of $333 million compared to yesterday.

Zcash is a cryptocurrency designed to protect user privacy. It is the first cryptocurrency to implement peer-to-peer privacy payments using zero-knowledge encryption technology. Zcash features fairness and openness, privacy protection, and user self-control, with transaction speeds faster than Bitcoin and low fees, usually only a fraction of a cent. Zcash also supports adding private messages to transactions and continues to develop new features and improve user experience through self-funding.

Important news about ZEC recently:

1️⃣ Market sentiment warms up driving rebound ZEC experienced a decline of 8.13% on October 17, leading to a noticeable shift in market sentiment. Investor interest in privacy coins has been rekindled, driving the ZEC price to rebound significantly in the short term, with a 24-hour rise of 9.40%. This volatility reflects the high sensitivity and rapid change characteristic of the cryptocurrency market.

2️⃣ High-volume leveraged trading is active A crypto whale recently opened a $4 million ZEC 5x leveraged long position on a trading platform. This large transaction not only sparked more market attention on ZEC but may also have stimulated its price fluctuations, becoming one of the important factors driving the significant volatility of ZEC prices.

3️⃣ Potential rise in demand for privacy coins Global anti-money laundering regulations are tightening, and some investors are beginning to bet that illicit and gray area funds may shift from Bitcoin and stablecoins to privacy coins. As one of the major privacy coins, Zcash has become a potential beneficiary of this influx of funds, and this expectation has also supported ZEC's market performance to some extent.

From a technical perspective, the ZEC price has rebounded after a previous pullback, but it may still face short-term adjustment pressure. On the fundamental side, the Zcash team continues to improve its privacy technology, but the uncertainty of the regulatory environment remains a key risk factor, and investors should closely monitor relevant policy developments.

This message is not intended as investment advice; investors should be aware of market volatility risks.