ZEC Token Sees 5.21% Price Dip Amid Spot ETF Filing and Record Shielded Pool Usage

ZECUSDT has experienced notable volatility in the past 24 hours, with the price declining by 5.21% to $506.97, opening at $534.86. The price change is largely attributed to heightened market activity following Bitwise Asset Management's filing for a spot Zcash ETF, increased institutional holdings by Cypherpunk Technologies, and record usage of Zcash's Shielded Pool for private transactions. While these developments initially generated bullish sentiment and a price surge, profit-taking and technical breakdowns below key support levels led to the recent correction. The ZECUSDT market remains highly active, with robust trading volume, and Zcash has posted strong gains over the past week and year despite short-term bearish technical indicators.