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Zcash Soars on ETF Launch Then Pulls Back | Bitcoin and Crypto News
Description
Zcash just rocketed 50% in a week, hitting 2018 highs thanks to the launch of Grayscale’s ZCSH ETF — now holding $260M worth of ZEC. The hype, fueled by comparisons to Bitcoin and its limited supply, pushed prices from under $600 to nearly $880. But with the ETF live, the rally cooled — down 7.6% Wednesday — as open interest in perpetual futures nearly doubled, hinting at potential selling pressure. Meanwhile, the broader crypto market is sluggish, with Bitcoin down and most coins in the red, suggesting this week’s surge may be taking a breather. Expect continued volatility as new ETFs reshape the landscape.
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