Zcash Tops $1,400 for First Time, Hits Record High as Rally Continues
JOON HYOUNG LEE
Summary
- Zcash (ZEC) surged past $1,400 and was trading at $1,427.73.
- Compared with a week earlier, Zcash has jumped 21.28%, extending its rally.
- The market is watching whether BitForex founder Garrett Jin could use Ether (ETH) to maintain a short position in Zcash (ZEC).
Forecast Trend Report by Period
Zcash (ZEC) soared past $1,400.
According to CoinMarketCap, Zcash was trading at $1,427.73 as of 11:58 p.m. Korea Standard Time on Sept. 17, up 14.62% from a day earlier. The token has jumped 21.28% from a week earlier. It is the first time Zcash has risen above $1,400.
Zcash's advance also put the spotlight on BitForex founder Garrett Jin's move earlier that day to withdraw about 35,000 Ether (ETH) from Binance and deposit it into Hyperliquid (HYPE). The market is watching whether Jin could use the Ether to maintain a short position in Zcash.
Jin, meanwhile, has been accused of profiting from insider trading during the largest-ever cryptocurrency liquidation event in October last year.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul