$ZEC is up another 40% in just a few days.

One of the most interesting parts of this move is who has been buying throughout the rally.

Mid-sized participants trading between $10K and $100K have been consistently adding exposure. That includes crypto professionals, high-net-worth traders, smaller funds and execution desks.

Their cumulative volume delta has continued making new highs alongside price.

They bought the initial breakout, kept buying through consolidation, and are still buying as ZEC pushes above $1,000.

Retail, meanwhile, keeps following the same pattern: chasing the breakout, getting shaken out on pullbacks, then FOMOing back in.

Institutional-sized CVD is different. It peaked around last December's rally and trended lower through most of 2026, only recently starting to turn higher.

That's what makes this move interesting.

ZEC has nearly tripled in weeks without sustained demand from either retail or large institutions.

#ZECHitsANewAllTimeHigh