Zcash Surges Above $1000 Barrier After Multi-Year Drought

Zcash has seen a significant surge in price over the past 48 hours, breaking above the $1000 barrier for the first time since 2016.

The ZEC price reached an intraday high of $1,046, putting the privacy-based cryptocurrency back in the spotlight.

Market data suggests that derivatives have played a major role in this price increase, but it remains to be seen whether bulls can break multi-year targets and sustain the momentum.