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Zcash (ZEC) price continues to rise, reaching a trading price of over $490 as of Thursday's report, with a cumulative increase of over 17% this week. This privacy-focused cryptocurrency's market capitalization has climbed to over $8 billion, surpassing popular altcoins like Sui (SUI) and Hedera (HBAR). With the upward momentum strengthening, technical indicators suggest that ZEC may challenge the next major resistance level around $578.

Zcash's market cap surpasses $8 billion, with open interest reaching an all-time high.

Zcash has soared over 17% to date. As of Thursday's report this week, the price of ZEC is nearing the $500 mark. Data from CoinGecko shows that ZEC's market cap has soared to over $8 billion, ranking 26th in the entire cryptocurrency market, surpassing popular altcoins like SUI and HBAR.