Zcash Nears $900 as ZEC Hits Eight-Year High, Outperforming Bitcoin

TradingKey
8 hours ago

TradingKey - Zcash (ZEC) Surges Toward $900 Mark, Hitting 8-Year High and Strongly Outperforming BTC.

On August 25, leading privacy coin Zcash (ZEC) hovered at high levels, up a slight 0.2% today to trade at $836.14, ranking 11th globally in market capitalization. Last Sunday, ZEC's price surged close to the $900 mark, reaching a high of $888 to set a nearly 8-year high, far outperforming Bitcoin (BTC).

ZEC price chart, Source: TradingView

Over the past 7 days, ZEC not only continued to hit new highs, gaining over 60%, while Bitcoin rose by only 20%, failing twice in its attempts to break the $80,000 mark. ZEC's parabolic surge and distinct "de-Bitcoinization" trend represent one of the most closely watched capital reallocations in the crypto asset market recently.ZEC and BTC 7-day gains, Source: CoinMarketCap

ZEC's strong breakout marks a structural repricing of capital in the privacy asset sector, boosting other privacy coins to follow suit. Over the same period, Dash (DASH) gained over 40%, Tezos (XTZ) rose 16%, and Monero (XMR) climbed 6%.

Find out more

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10