$ZEC is making a strong move higher, trading near $1,250 after gaining almost 8% in 24 hours. ZEC is up roughly 54% over the past week and 151% over the past month, bringing its market cap close to the ninth-ranked cryptocurrency.
The rally has been supported by increased market activity, with ZEC futures volume reaching around $6.38 billion and open interest rising to approximately $2.16 billion.
Zcash's capped 21 million supply and privacy-focused technology continue to distinguish it from many other major cryptocurrencies. Recent regulatory developments have also reduced some uncertainty surrounding the asset.
With ZEC now challenging the next position in the rankings, its momentum and market activity will be closely watched.
$ZEC
#zec
The rally has been supported by increased market activity, with ZEC futures volume reaching around $6.38 billion and open interest rising to approximately $2.16 billion.
Zcash's capped 21 million supply and privacy-focused technology continue to distinguish it from many other major cryptocurrencies. Recent regulatory developments have also reduced some uncertainty surrounding the asset.
With ZEC now challenging the next position in the rankings, its momentum and market activity will be closely watched.
$ZEC
#zec