- ZEC/BTC breakout signals a decisive market structure shift and renewed bullish momentum.
- Spot price surges over 40% as trading volume and market cap climb.
- Hayes urges shielded, self-custodial storage as ZEC adoption and activity rise.
Zcash’s latest price action drew heightened market attention after a strong rally in the ZEC/BTC pair pushed the asset to its highest relative level in the displayed period, a move that Arthur Hayes highlighted as he commented on the chart’s strength. The pair extended a multi-day advance that picked up late on Thursday, breaking out of a prolonged consolidation phase marked by tight ranges and repeated failed attempts to build momentum.
The mood shifted in the latter half of the chart as buyers took in sell pressure, forming a series of higher lows that signaled a clear change in market structure. This shift preceded a sudden upward move that drove ZEC/BTC from around 0.0049 BTC to above 0.0068 BTC, resulting in one of the largest intraday increases for Zcash in recent months.
Spot Price Surges Above $680 Amid Heavy Trading
Alongside the pair’s performance against Bitcoin, ZEC saw a strengthened move in spot markets. The asset advanced more than 40% over 24 hours, reaching $683.41 at the time of writing. Its market capitalization increased by 40.57% to $11.14 billion, supported by a rise in trading activity.
Intraday data showed a gain starting shortly after 9:00 a.m., followed by several periods of consolidation. A stronger upward shift occurred after midnight, carrying ZEC through consecutive highs and sustaining momentum into the early morning. The circulating supply stands at 16.31 million coins, while the total supply remains capped at 21 million.
Related: Privacy Coins Lead Rally as Zcash Breaks Multi-Year Range
Hayes Reiterates the Importance of Shielding ZEC Holdings
The rally also drew renewed interest in earlier statements issued by Hayes, who urged ZEC holders to use shielded and self-custodial storage options.
He warned that relying on exchanges or leaving assets unshielded limits the privacy protections central to Zcash’s design. His remarks highlighted the ongoing issue of unshielded transactions remaining more common than shielded ones, even as market activity surrounding the asset increases.
Related : Arthur Hayes Ranks Zcash as Second-Largest Holding After 920% Surge
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Source: https://coinedition.com/zcash-extends-strong-breakout-as-traders-track-zec-btc-momentum-and-renewed-warnings/
