ZEC(Zcash)24 hours pump 4.61%

Gate News Bot news, on September 8, according to CoinMarketCap data, as of the time of this report, ZEC( Zcash) is currently priced at $49.32, with a rise of 4.61% in the last 24 hours, reaching a high of $49.32 and a low of $38.75. The current market capitalization is approximately $799 million, an increase of $3.52 million compared to yesterday.

Zcash is a privacy-protecting digital currency. It uses end-to-end encryption technology to safeguard users' privacy rights. Zcash is a decentralized protocol, which means your funds are entirely under your control, not controlled by banks. The transaction speed of Zcash is faster than that of Bitcoin, and the transaction fees are usually only a fraction of a cent.

Important news about ZEC recently:

1️⃣ Zcash Foundation and Developer Trademark Dispute The Zcash Foundation pointed out that a ZEC developer violated the trademark usage commitment. This dispute may affect the development of the Zcash ecosystem and community trust, and could put pressure on the ZEC price in the short term.

2️⃣ The status of privacy coins in the market has risen As one of the main privacy coins, Zcash has recently performed better than most cryptocurrencies, second only to some popular meme coins. This reflects an increasing market emphasis on privacy protection features, which may be an important factor driving the rise in ZEC prices.

3️⃣ Technical breakthroughs lead to new price highs The price of ZEC token has recently reached a two-year high, showing strong pump momentum. This technical breakthrough may attract more investors' attention and further drive short-term price rise.

From a technical perspective, ZEC remains in an upward trend after breaking through important resistance levels, but it is necessary to be cautious of short-term pullback risks. On the fundamental side, Zcash, as a mature privacy coin project, still has a positive long-term development outlook, but it also faces uncertainties such as regulation.

This message is not an investment advice, and investment should take market volatility risks into consideration.