Zcash Rallies After ETF Listing, Market Eyes Clarity Vote and Fed Meeting
Zcash has rallied since its Grayscale ETF began trading. The Clarity Act vote and FOMC decision are the next key events.
Zcash has rallied since its Grayscale ETF began trading. The Clarity Act vote and FOMC decision are the next key events.
Grayscale Research finds Zcash mining yields roughly twice the daily revenue per machine and four times the revenue per MWh compared to Bitcoin.
Bitcoin whales privately urged early investor Dan Held to buy Zcash before the token rallied past $1,000, amid growing Zcash ETF inflows.
ZEC broke $1,000 for the first time in years, costing three whale shorts about $39 million in unrealized losses.
Privacy coins have risen 213% since Bitcoin's all-time high, while other crypto sectors are down. Zcash leads the rally.
Grayscale's Zcash ETF held $463.2M in assets as ZEC hit $1,185, up 11% in 24 hours.
Zcash briefly traded above $1,000 for the first time in nearly a decade; after a sharp run-up, traders are watching whether the level holds.
Four of five altcoins that broke out in mid-August have September catalysts that could extend or reverse moves.
LIT, ZEC, and RAIN have each broken above key resistance levels and are aiming for Fibonacci targets. Their charts show support levels and momentum indicators.
Grayscale Research argues Zcash has a real shot at Bitcoin's market share, citing privacy, security work and intents, modeling ZEC at $8,109 on 10% share.