ZEC Token Surges 23%: Fresh Capital, ETF Hopes, and Major Support Zone Drive Momentum

ZECUSDT experienced a notable price surge in the past 24 hours, rising 23.17% to $283.40, as reported on Binance. The increase in open interest for ZEC derivatives suggests fresh capital entering the market, likely contributing to the heightened trading activity and volatility. Recent news highlights mixed sentiment, with growing adoption of Zcash’s zero-knowledge technology and supportive developments such as a $1.2 million donation and Grayscale’s interest in a potential ETF conversion boosting long-term outlook. However, the sell-off by large holders, who reduced positions by approximately 38%, initially weighed on price but may have triggered aggressive buying as the market stabilized near a key support zone. Ongoing discussions about quantum computing risks and technical patterns like a double top have added to market uncertainty. ZEC’s market cap is between $3.53 billion and $4.6 billion, with 24-hour trading volume ranging from $12.05 million to $529.36 million, reflecting substantial recent activity and investor interest.