The fourth-highest trading volume among Binance perpetuals today wasn’t XRP—it was $ZEC .
Checked at 21:56 Beijing time: ZEC perpetuals had about 2.45 billion U in 24-hour trading volume, behind only BTC, ETH, and SOL, and roughly 1 billion more than XRP’s approximately 1.42 billion. Spot was around $911.95, up about 2.9% over 24 hours; at the same time, BTC was down about 2.1% and ETH about 3.1%.
The volume built up after this morning’s sharp drop. On Binance spot, the 5:00 hourly candle hit a low of 801.52 on about 18.1 million U in volume. The 10:00 candle opened at 849.72, reached a high of 917.28, and closed at 911.52, with about 26.32 million U in volume—the biggest hour of the day. From 801.52 to the current price, it has recovered about 13.8%.
On November 6, the spot daily candle still closed at 1321.42, so this gradual slide has been going on for a while. I couldn’t find any new announcement that would explain this surge in volume; it looks more like the market is correcting on its own: 800 held, and during that 10:00 hour, volume pushed the bears back.
For the short term, I’m looking at whether this relative strength can continue. I’m watching two things: whether 801.52 holds, and whether perpetual trading volume can stay near the top. If it breaks below this morning’s low on heavy volume, or volume drops out of the top ranks and it can’t reclaim 900, this rebound is over.
#Zcash $ZEC
Checked at 21:56 Beijing time: ZEC perpetuals had about 2.45 billion U in 24-hour trading volume, behind only BTC, ETH, and SOL, and roughly 1 billion more than XRP’s approximately 1.42 billion. Spot was around $911.95, up about 2.9% over 24 hours; at the same time, BTC was down about 2.1% and ETH about 3.1%.
The volume built up after this morning’s sharp drop. On Binance spot, the 5:00 hourly candle hit a low of 801.52 on about 18.1 million U in volume. The 10:00 candle opened at 849.72, reached a high of 917.28, and closed at 911.52, with about 26.32 million U in volume—the biggest hour of the day. From 801.52 to the current price, it has recovered about 13.8%.
On November 6, the spot daily candle still closed at 1321.42, so this gradual slide has been going on for a while. I couldn’t find any new announcement that would explain this surge in volume; it looks more like the market is correcting on its own: 800 held, and during that 10:00 hour, volume pushed the bears back.
For the short term, I’m looking at whether this relative strength can continue. I’m watching two things: whether 801.52 holds, and whether perpetual trading volume can stay near the top. If it breaks below this morning’s low on heavy volume, or volume drops out of the top ranks and it can’t reclaim 900, this rebound is over.
#Zcash $ZEC