ZEC (Zcash) is up 14.20% in 24 hours, with a market cap of approximately $5.736 billion.

According to Gate News Bot on December 4, citing CoinMarketCap data, as of press time, ZEC (Zcash) is trading at $349.30, up 14.20% in the past 24 hours, reaching a high of $546.73 and a low of $302.75. The 24-hour trading volume is $1.556 billion. The current market cap is approximately $5.736 billion, an increase of $713 million from yesterday.

Zcash is a privacy-protecting cryptocurrency that uses zero-knowledge proof technology to achieve end-to-end encryption, safeguarding user privacy. Zcash features fairness and openness, privacy protection, user control, the ability to send secret messages, low fees and fast transactions, and autonomous development. It is an improved version of Bitcoin, with faster transaction speeds and fees typically just a fraction of a cent. The Zcash ecosystem is supported by a decentralized developer team, continually adding new features and improving user experience.

Recent important news about ZEC:

1️⃣ Large institutional investors increase holdings, driving price up A major investor deposited $4.49 million USDC to HyperLiquid, expanding their 10x leveraged ZEC long position. Meanwhile, another significant market participant deposited $1.5 million USDC to maintain their ZEC long position. These large capital inflows show institutional investors’ optimism for ZEC, providing strong support for the price.

2️⃣ Trader behavior reflects positive shift in market sentiment Well-known trader “Maji Big Bro” opened a new 10x leveraged long position in ZEC, with total portfolio unrealized gains exceeding $2 million. Another trader, “Calm Order King,” also closed previous short positions and switched to ZEC long positions. The actions of these active traders reflect a positive shift in market sentiment, contributing to ZEC’s price increase.

3️⃣ Regulatory uncertainty creates short-term price pressure The U.S. Securities and Exchange Commission plans to hold a roundtable discussion on December 15 to explore privacy and financial regulatory issues in the cryptocurrency industry. Although no direct policy proposals will be made, this move has raised concerns in the market about the regulatory prospects for privacy coins. Such uncertainty may exert some short-term pressure on ZEC prices.

From a technical perspective, ZEC has broken through multiple key resistance levels and is currently holding steady around $350, showing strong upward momentum. However, investors should pay close attention to the potential impact of the upcoming SEC roundtable and the subsequent actions of large wallet addresses.

This information is not investment advice. Please be aware of market volatility risks when investing.