ZEC (Zcash) rose 10.59% in 24 hours, with a market capitalization increase of 1.054 billion dollars in a single day.

Gate News Bot news, on November 20, according to CoinMarketCap, as of the time of writing, ZEC (Zcash) is currently priced at $674.79, with a rise of 10.59% in the last 24 hours, reaching a high of $735.77 and a low of $471.39. The 24-hour volume is $2.088 billion. The current market capitalization is approximately $11.012 billion, an increase of $1.054 billion compared to yesterday.

Zcash is a cryptocurrency that serves as encrypted electronic cash and is the first to develop zero-knowledge encryption technology for private peer-to-peer payments. Zcash is available for anyone with an internet connection and uses end-to-end encryption to protect user privacy. As a decentralized protocol, Zcash allows users to have complete control over their funds. Additionally, Zcash supports sending private messages, has transaction speeds faster than Bitcoin, and fees are typically only a few cents.

Important recent news about ZEC:

1️⃣ Large investors take profits, market under short-term pressure A large ZEC bull investor has faced a full liquidation, involving four wallets, with total losses exceeding $10.4 million. This indicates that some investors have chosen to take profits at high levels, which may create short-term pressure on the ZEC price.

2️⃣ The battle between bulls and bears intensifies, market volatility increases A trader has gained a 130% floating profit on a ZEC short position, with a holding size of approximately 19 million USD. At the same time, several whales with positions of about 20 million USD have liquidation prices in the range of 653-655 USD. This confrontation of long and short forces has intensified market volatility, reflecting the divergence in investor expectations for the future of ZEC.

3️⃣ Institutional investors continue to position themselves, optimistic about the long-term development of ZEC Nasdaq-listed company Cypherpunk Technologies Inc. has once again invested $18 million to purchase 29,869.29 ZEC, with an average purchase price of $602.63. The company's total holdings of ZEC have reached 233,644.56, accounting for 1.43% of the total supply of the Zcash network. The continued accumulation by institutional investors provides long-term support for ZEC.

From a technical perspective, the ZEC price faced resistance and retreated near the $700 mark, and may face adjustment pressure in the short term. However, on the fundamental side, the continued positioning by institutional investors reflects confidence in the long-term development of Zcash. Investors should closely monitor the movements of large holding addresses, changes in the contract market, and the development progress of the Zcash network.

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