Zcash Blasts Past $1,200 as Market Cap Surges to $20 Billion

Zcash has broken through the $1,200 mark after experiencing double-digit gains. The surge lifted its market capitalization to over $20 billion, displacing HYPE as the ninth-largest digital asset by market cap.

The price action in the last 24 hours saw slightly more than $24 million in leveraged positions liquidated - the third-most liquidations on a single asset behind ethereum and bitcoin. Wiped-out short bets accounted for the majority of liquidations at $17.5 million.

The launch of Grayscale's Zcash ETF (ZCSH) has introduced a new dynamic for the privacy coin, providing mainstream investors with a direct path to ride its momentum. This trend is clearly reflected in recent fund inflows.