ZEC (Zcash) fell 17.81% in 24 hours.

Gate News Bot news, on December 1, according to CoinMarketCap data, ZEC (Zcash) is currently priced at $383.41, with a 17.81% fall in the last 24 hours, reaching a maximum of $592.50 and a minimum of $382.78. The 24-hour volume reached $913 million. The current market capitalization is approximately $6.294 billion, a decrease of $1.363 billion compared to yesterday.

Zcash is a privacy-protected digital currency and the first cryptocurrency to develop zero-knowledge cryptography for private peer-to-peer payments. Zcash is available to anyone with an internet connection and uses end-to-end encryption to protect users' privacy rights. As a decentralized protocol, Zcash allows users to have complete control over their funds. Zcash transactions are faster than Bitcoin, and the transaction fees are usually only a fraction of a cent.

Important news about ZEC recently:

1️⃣ The SEC will hold a roundtable to discuss cryptocurrency privacy issues The U.S. Securities and Exchange Commission plans to hold a roundtable discussion on December 15, focusing on privacy and financial regulatory issues in the cryptocurrency industry. The meeting will address concerns raised by privacy tools such as cryptocurrency mixers and privacy tokens. Although no specific policy proposals will be made, it will provide a public dialogue platform for the key challenges facing the industry. This move has triggered market concerns about the regulatory prospects for privacy coins, becoming one of the main reasons for the significant correction in ZEC prices.

2️⃣ Large investors adjust strategies, short-term market under pressure The largest ZEC bullish holder has initiated a reduction in positions, decreasing the holding from 60,000 coins to 55,000 coins. The account's unrealized profit has shrunk from a peak of $12 million to $5.15 million, indicating that some large investors are starting to take profits. In addition, a large ZEC bullish investor has faced full liquidation, involving four wallets, with total losses exceeding $10.4 million. These adjustments by large funds are creating short-term pressure on the ZEC price.

3️⃣ Institutional investors continue to position themselves, optimistic about the long-term development of ZEC Nasdaq-listed company Reliance Global Group has converted its entire digital asset portfolio to Zcash. The company stated that this move was made after a thorough evaluation, believing that Zcash's privacy architecture and institutional flexibility align better with the company's long-term goals. Another publicly listed company, Cypherpunk Technologies Inc., has also invested an additional $18 million to acquire 29,869.29 ZEC at an average purchase price of $602.63. The continued investment from institutional investors provides long-term support for ZEC.

From a technical perspective, the ZEC price has encountered resistance and retreated near the $700 mark, and may face further adjustment pressure in the short term. However, fundamentally, Zcash's position in the privacy coin sector remains strong, and the continued investments from institutional investors reflect confidence in its long-term development. Investors should closely monitor the outcomes of the SEC roundtable discussions, the movements of large holding addresses, and the development progress of the Zcash network.

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