🚀 Why did the currency $ZEC rise today despite the market's decline?
While most cryptocurrencies today have seen a noticeable decline, Zcash (ZEC) topped the winners list with a strong rise that caught the attention of traders and analysts alike. How did it withstand the downward wave? 🤔
💡 First: What is Zcash?
The Zcash currency is known for being a leader in the world of digital privacy, allowing its users to choose the type of transaction:
🔒 Fully encrypted (Shielded) or 🔍 transparent like Bitcoin.
It relies on advanced zk-SNARKs technology, which allows for transaction proof without revealing any details.
📈 Reasons for the rise of ZEC today
1. 📢 Positive institutional news:
Recent reports indicate the reopening of the Grayscale Zcash Trust for investment, rekindling institutional interest in the currency.
2. 🧠 Upcoming technical updates:
The team announced preparations for the upcoming Network Upgrade 6.1 expected in November 2025, to update performance and enhance privacy.
3. 📊 Important technical breakout:
ZEC broke a bearish trend that lasted for years, causing a Short Squeeze wave that significantly raised the price.
4. 🔍 Increased demand for privacy:
With rising global concerns about digital surveillance, investors returned to interest in privacy coins, and ZEC was one of the main beneficiaries.
5. 🐋 Whale activity and low liquidity:
The entry of medium capital into a low liquidity currency led
Sharp increase compared to major currencies.
