$ZEC above 1,600 is trending as a record high. It is not one. The all time high is 3,191.93, printed on October 28, 2016, and price today sits 49.5% below it.
What the numbers actually say:
Price: 1,614 USD
24h: +8.6%, yesterday's high 1,650
Market cap: 27.3B USD, rank 9
30 day low: 751.53
1,650 is the highest ZEC has traded in almost three years of daily candles, and the run from the 30 day low is +120%. That is the real story, and it is strong enough without borrowing a record it does not have.
Supply detail that matters for this move: 16.95M ZEC circulate out of a 21M cap, the same hard cap Bitcoin uses.
Levels. Below price: 1,595, the ceiling from September 19 that price cleared, then the September 18 close at 1,562. Above price: yesterday's high at 1,650.
The 2016 high at 3,191.93 is the level that would make the word record accurate.
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What the numbers actually say:
Price: 1,614 USD
24h: +8.6%, yesterday's high 1,650
Market cap: 27.3B USD, rank 9
30 day low: 751.53
1,650 is the highest ZEC has traded in almost three years of daily candles, and the run from the 30 day low is +120%. That is the real story, and it is strong enough without borrowing a record it does not have.
Supply detail that matters for this move: 16.95M ZEC circulate out of a 21M cap, the same hard cap Bitcoin uses.
Levels. Below price: 1,595, the ceiling from September 19 that price cleared, then the September 18 close at 1,562. Above price: yesterday's high at 1,650.
The 2016 high at 3,191.93 is the level that would make the word record accurate.
Follow me for daily market breakdowns.
#zec #zcash #privacy #crypto #binance