Zcash Breaks Above $1,400 for First Time, Hits Record High
Summary
- Zcash (ZEC) surged past $1,400 and was trading at $1,427.73.
- Zcash jumped 14.62% from a day earlier and 21.28% from a week ago, extending its rally.
- Garrett Jin withdrew about 35,000 Ether (ETH) from Binance and deposited it into Hyperliquid (HYPE), raising the possibility that the funds could be used for a Zcash (ZEC) short position.
Forecast Trend Report by Period
Zcash (ZEC) surged past $1,400, setting a new record high.
According to CoinMarketCap, Zcash was trading at $1,427.73 as of 11:58 p.m. on September 17 in South Korea, up 14.62% from a day earlier. It has jumped 21.28% from a week ago. This is the first time Zcash has climbed above $1,400.
Zcash's rally also drew attention to a move by BitForex founder Garrett Jin, who withdrew about 35,000 Ether (ETH) from Binance on September 17 and deposited it into Hyperliquid (HYPE). Market participants are focused on the possibility that Jin could use the Ether to maintain a short position in Zcash.
Separately, Jin has faced allegations that he profited from insider trading during the largest crypto liquidation event on record in October last year.
