Zcash (ZEC) 24-hour volatility reaches 26.1%: Grayscale’s $46 million purchase and whale accumulation drive surge

Volatility Brief

ZEC experienced significant price fluctuations in the past 24 hours, hitting a low of $308.59 and a high of $389.27. The current price is $362.35, with an amplitude of 26.1%. Trading volume has surged to approximately $687 million, marking a 77% increase from the previous day, with clear signs of net capital inflow.

Brief Analysis of the Cause of Unusual Movements

- On April 8, Grayscale accumulated $46 million in shielded ZEC, directly triggering a 30% price spike and fueling expectations of a potential ETF conversion.

- Trading volume soared 77% to over $339 million, accompanied by whale-level long positions and accumulation, driving a rebound from the April 7 low of $251.

- The US-Iran ceasefire agreement eased geopolitical risks, boosting the privacy coin sector, with ZEC leading gains of over 25%.

Market View and Outlook

Market sentiment is broadly bullish, with community discussions centered on ongoing whale accumulation and the revival of the privacy narrative. Analysts predict that breaking the $330 resistance could push prices to $600-$700, but an overbought RSI warns of bull trap risks. Entry is recommended after a price pullback.