ZEC(Zcash) fell 7.76% in 24 hours.

Gate News Bot News, October 11, according to CoinMarketCap data, as of the time of writing, ZEC(Zcash) is currently priced at $231.45, down 7.76% in the last 24 hours, with a high of $269.57 and a low of $125.87. The 24-hour trading volume reached $1.603 billion. The current market capitalization is approximately $3.763 billion, a decrease of $316 million compared to yesterday.

Zcash is a privacy-protecting digital currency that utilizes zero-knowledge proof technology to achieve end-to-end encryption, safeguarding users' privacy rights. Zcash features fairness and openness, decentralization, fast transaction speed, and low fees, making it suitable for everyday payments and long-term storage.

Important news about ZEC recently:

1️⃣ Grayscale Opens Zcash Trust Private Placement Grayscale Investment Company announced that its Grayscale Zcash Trust is now open for private placement to accredited investors. This move significantly enhances institutional investors' interest in Zcash, bringing new investment demand for ZEC and becoming an important factor driving the increase in ZEC prices.

2️⃣ Potential Growth 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 major privacy coins, Zcash has become a potential beneficiary of this influx of funds, boosting its market performance.

3️⃣ High Leverage Trading Activities A crypto whale opened a $4 million long position on ZEC with 5x leverage on the HyperLiquid platform. This large transaction activity has drawn more attention to ZEC in the market and stimulated its price fluctuations.

From a technical perspective, the price of ZEC has experienced a pullback after a significant increase, which may face short-term adjustment 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, and investors need to closely monitor relevant policy trends.

This message is not an investment advice, and investors should pay attention to market volatility risks.