Zcash jumps 20% to landmark $1,000 level as short sellers lose $34 million
60-second summary
Zcash jumps 20% to the landmark $1,000 level as short sellers lose $34 million when the coin briefly traded above $1,020 in a sharp rally that forced leveraged bets to liquidate and push prices higher. The move reflects renewed buyer interest and tightening supply amid broader crypto bullishness, potentially lifting other privacy coins and spurring further market momentum.
ZEC briefly traded above $1,020 as a sharp rally forced traders betting against the token out of leveraged positions.