ZEC (Zcash) 24-hour pump 4.61%

Gate News Bot message, on November 13, according to CoinMarketCap data, as of the time of writing, ZEC (Zcash) is currently priced at 497.89 USD, with a rise of 4.61% in the last 24 hours, reaching a high of 736.51 USD and a low of 443.03 USD, with a 24-hour volume of 1.88 billion USD. The current market capitalization is approximately 8.12 billion USD, an increase of 358 million USD compared to yesterday. ZEC currently ranks 17th in the Crypto Assets market capitalization leaderboard.

Important news about ZEC recently:

1️⃣ Institutional investors actively position in ZEC, driving price pump Leap Therapeutics, a publicly listed company on the US stock market, announced its name change to Cypherpunk Technologies Inc and its transformation into a ZEC Crypto Assets treasury company. The company has purchased 203,775.27 ZEC coins at an average price of $245, totaling an investment of approximately $50 million. At the same time, the company completed a $58.88 million private placement financing led by Winklevoss Capital. This large-scale institutional investment behavior demonstrates confidence in the long-term value of ZEC, providing strong support for the recent price rise.

2️⃣ Expansion of the ZEC ecosystem, cross-chain applications bring new growth points The Zcash wrapped token zenZEC launched by Zenrock has accumulated a trading volume of 15 million dollars since its launch on the Solana blockchain. In addition, NEAR Intents supports the Zcash wallet Zashi and Zcash cross-chain transactions, with a single-day trading volume soaring to over 200 million dollars. These cross-chain applications bring new development opportunities for Zcash, which is expected to enhance the activity and utility of its ecosystem, ultimately benefiting the value of ZEC in the long term.

3️⃣ Increase in adoption of privacy features, improvement in network fundamentals Data shows that ZCash's shielded pool has accounted for 23% of the total supply, a significant rise from 18% in October. This trend indicates a continued increase in the adoption of network privacy features, reflecting a growing demand from users for privacy protection. With the widespread application of privacy characteristics, ZEC's core value proposition is strengthened, which helps attract more users and investors.

From a technical perspective, the price of ZEC has stabilized after significant fluctuations in the previous period, but it may still face short-term adjustment pressure. However, fundamentally, Zcash's position in the privacy coin sector has further solidified, with institutional investment and ecosystem expansion laying the groundwork for its long-term development. Investors should closely monitor the movements of large holding addresses, the progress of cross-chain applications, and the changes in the adoption rate of privacy features.

This message is not an investment advice, and investors should be aware of market volatility risks.