ZEC (Zcash) has risen 31.12% in the last 24 hours.

Gate News Bot news, on October 10, according to CoinMarketCap, as of the time of writing, ZEC (Zcash) is currently priced at 227.95 USD, having risen 31.12% in the last 24 hours, with a peak of 233.65 USD and a low of 124.00 USD. The 24-hour volume reached 1.123 billion USD. The current market capitalization is approximately 3.705 billion USD, an increase of 879 million USD compared to yesterday. ZEC currently ranks 35th in the Crypto Assets market capitalization leaderboard.

Important news about ZEC recently:

1️⃣ Grayscale Opens Zcash Trust Private Placement Grayscale Investments announced that its Grayscale Zcash Trust is now open for private placement to qualified accredited investors. This move has significantly increased institutional investor interest in Zcash, bringing new investment demand for ZEC and driving its price to rise sharply.

2️⃣ Potential Rise in Demand for Privacy Coins Global anti-money laundering regulations are tightening, and some investors are starting to bet that illegal and gray area funds may shift from Bitcoin and stablecoins to privacy coins. As one of the main privacy coins, Zcash has become a potential beneficiary of this influx of funds, driving its market performance.

3️⃣ Large Leverage Trading Activities A crypto whale opened a $4 million long position with 5x leverage on the HyperLiquid platform for ZEC. This large trading activity may have sparked more market attention on ZEC and stimulated its price rise.

From a technical perspective, ZEC has broken through recent resistance levels, but considering the significant rise in the short term, it may face correction pressure. On the fundamental side, the Zcash team continues to improve its privacy technology, but the uncertainty in the regulatory environment remains a key risk factor.

This message does not constitute investment advice; investors should be aware of market volatility risks.