ZEC (Zcash) 24-hour pump 12.33%

Gate News Bot news, September 30, according to CoinMarketCap data, as of the time of writing, ZEC (Zcash) is currently priced at $71.74, having risen by 12.33% in the last 24 hours, with a high of $72.95 and a low of $47.87. The 24-hour volume reached $210 million. The current market capitalization is approximately $1.165 billion, an increase of $128 million compared to yesterday.

Zcash is a privacy-preserving digital currency. It is the first cryptocurrency to develop zero-knowledge cryptography for private peer-to-peer payments. Zcash uses end-to-end encryption to protect users' privacy rights. It is a decentralized protocol, meaning your funds are entirely controlled by you. Compared to Bitcoin, Zcash has faster transaction speeds, and the transaction fees are usually only a fraction of a cent.

Important news about ZEC recently:

1️⃣ The demand for privacy coins continues to rise, strengthening ZEC's position As concerns about digital privacy continue to grow, Zcash's position as one of the major privacy coins has been further solidified. Its unique zero-knowledge proof technology provides users with a higher level of transaction anonymity, attracting more investors and users who demand privacy protection. This trend has directly driven the continuous rise of the ZEC price, with a cumulative increase of over 30% in the past two days.

2️⃣ The overall cryptocurrency market is warming up, with ZEC performing outstandingly Recently, the cryptocurrency market has shown an overall rise trend, with several mainstream coins recording varying degrees of rise. Against this backdrop, ZEC, as a representative of the privacy coin sector, has performed particularly well. On September 29 and 30, ZEC ranked first in the 24-hour rise list of the cryptocurrency market for two consecutive days, demonstrating strong market performance and investor confidence.

3️⃣ Volume significantly rises, market activity increases The 24-hour volume of ZEC rose from 129 million USD on September 29 to 210 million USD on September 30, an increase of over 60%. The significant rise in volume reflects the growing market interest in ZEC, while also providing strong support for the price pump.

From a technical perspective, ZEC has broken through multiple important moving average resistances, showing strong short-term momentum. However, considering the rapid rise over the past two days, investors should remain cautious of potential pullback risks. From a fundamental standpoint, Zcash's continuous innovation in privacy protection technology, along with the growing demand for privacy solutions in the cryptocurrency market, provides a solid foundation for ZEC's long-term development.

This message is not intended as investment advice; investors should be aware of market volatility risks.