ZEC Token Drops 10.40% After Bullish Rally; $106.2M Volume and Market Cap Hold Steady

ZECUSDT has experienced a notable price decrease of 10.40% over the last 24 hours on Binance, with the current price at $293.28, down from an opening price of $327.33. This decline follows recent bullish momentum in Zcash, where the asset previously surged above the $300 mark and saw increased trading volume and positive sentiment driven by a broader market rebound and active trading. The retracement is likely attributed to profit-taking after the recent rally and caution among traders due to overbought technical conditions highlighted by analysts. Despite the price pullback, ZECUSDT remains actively traded, with a 24-hour spot volume of $106.20 million on Binance, and Zcash's market capitalization stands around $4.8 billion with a circulating supply of approximately 16.53 million coins.