$ZEC
Just broke above $1,190 🚨👀
Zcash is currently trading at around $1,195, pushing its market cap close to $19.5 billion.
The key catalyst is that Grayscale is reportedly increasing its ZEC holdings by 10.5%, marking a strong shift from dull capital flows after its August launch.
This buying helped squeeze short positions, triggering the liquidation of around $34.5 million in positions and pushing ZEC into the top ten.
But there’s another side to this move.
Open futures contracts have risen to about $2.57 billion, meaning heavy leverage is now driving this rally.
Just broke above $1,190 🚨👀
Zcash is currently trading at around $1,195, pushing its market cap close to $19.5 billion.
The key catalyst is that Grayscale is reportedly increasing its ZEC holdings by 10.5%, marking a strong shift from dull capital flows after its August launch.
This buying helped squeeze short positions, triggering the liquidation of around $34.5 million in positions and pushing ZEC into the top ten.
But there’s another side to this move.
Open futures contracts have risen to about $2.57 billion, meaning heavy leverage is now driving this rally.
