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Zcash surges 128% in 30 days, eyes multi-year highs
ZEC traded with about $1.6 billion in daily volumes, and open interest hit a fresh all-time high of $2.8 billion on September 6, according to CoinGlass data cited by Yahoo Finance.
Zcash (ZEC) has surged about 128% over the past 30 days, helping it move into the 10th-largest spot and closing in on Hyperliquid (HYPE), Yahoo Finance reported. The token briefly reached a multi-year high around $1,254 as trading activity stayed elevated.
The article also pointed to strong liquidity and derivatives demand. Trading volumes were cited at roughly $1.6 billion, or 8% of circulating market cap, while CoinGlass data showed Zcash open interest jumped to an all-time high of $2.8 billion on September 6.
Yahoo Finance linked the rally to a spike in social metrics on August 21, saying Zcash’s 7-day moving average crossed above the 30-day moving average for social volumes. The outlet added that, in past instances of that crossover, ZEC’s price tended to rebound shortly afterward.
Still, the piece noted potential for a pause after the run, while arguing momentum could persist. It cited a shift in market sentiment, with the Crypto Fear and Greed Index rising from 36 to 75, and referenced Zcash’s use case around its Ironwood shielded vault after prior code-related concerns.