Zcash (ZEC) fluctuates 26.1% in 24 hours: Influencer endorsement triggers short squeeze and renewed privacy demand
Bitget Pulse2026/05/05 21:05Volatility Brief
ZEC experienced dramatic price fluctuations in the past 24 hours, with a low of $416.17 and a high of $524.59. The current price is $523.91, reflecting a significant swing of 26.1%. Trading volume surged notably, reaching $780 million to $800 million USD, a sharp increase compared to usual levels, with clear signs of net capital inflow and active whale buying.
Brief Analysis of Anomaly Causes
- Led by Influencer Endorsements: On May 4, Raoul Pal and Barry Silbert publicly supported ZEC, pushing the price above the $400 mark and triggering over $10 million in short liquidations, which amplified the price surge.
- Trading Volume and Whale Actions: 24-hour trading volume soared to $784 million USD, with intensified whale buying pressure (buy orders 561 vs sell orders 441), strengthening the bullish momentum.
- Ongoing Privacy Narrative: ZEC fee revenue reached $28 million USD; shielded supply and development funds (such as ZODL $25 million) provide background support, though these are not new daily events.
Market Viewpoints & Outlook
Market sentiment has turned bullish, with the community actively discussing the privacy coin revival and ZEC surpassing $400. The Fear & Greed Index stands at 39 (cautious amid fear), with bulls accounting for 68%. Analysts predict a short-term test of the $420-$600 resistance, but caution is advised at the $410 level and regarding BTC dominance (58%); if the $350 support holds, further gains are possible.
Note: This analysis is automatically generated by AI based on public data and on-chain monitoring, for informational purposes only.Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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