In brief Zcash reached its highest price since 2018 after gaining more than 50% in four days. Open interest in ZEC perpetual futures rose from $963 million to $1.8 billion in five days. Crowded futures markets can intensify both short squeezes and selloffs. Zcash briefly reached $888—its highest price level since 2018—before pulling back to around $843, up nearly 7% over 24 hours and roughly 48% since August 20.The privacy coin, which trades as ZEC, remains well short of a record all-time high of $3,191.93, set in October 2016 during the coin’s earliest days of trading when liquidity was thin.
Source: Decrypt
