ZEC (Zcash) rose 15.61% in 24 hours, reaching a peak of $404.16.

According to Gate News Bot on December 8, citing CoinMarketCap data, as of press time, ZEC (Zcash) is trading at $390.45, up 15.61% in the past 24 hours, with a high of $404.16 and a low of $302.75. The 24-hour trading volume reached $912 million. The current market capitalization is approximately $6.414 billion, an increase of $866 million compared to yesterday.

Zcash is the first cryptocurrency to use zero-knowledge encryption technology to enable private peer-to-peer payments, providing encrypted electronic cash services. ZEC uses end-to-end encryption to protect user privacy and is a decentralized protocol where users control their own funds. ZEC offers faster transaction speeds than Bitcoin, with transaction fees typically only a fraction of a cent, and supports sending private information within transactions. ZEC is supported by several major exchanges and offers a variety of wallet options within its ecosystem, including the Zashi mobile wallet and Edge Wallet.

Recent key news about ZEC:

1️⃣ Regulatory policy expectations drive increased interest in privacy coins The U.S. Securities and Exchange Commission (SEC) will hold a roundtable on December 15 regarding cryptocurrency, financial surveillance, and privacy, where ZEC founder Zooko Wilcox will give a keynote speech. The meeting will mainly discuss the regulatory importance the SEC can assign to crypto privacy projects during rulemaking. If consensus is reached and zero-knowledge proofs are recognized as meeting compliance obligations, there is potential for this flexibility to be incorporated into the digital asset regulatory framework. This expectation has led to a renewed market assessment of privacy coin applications and is a key factor supporting the recent ZEC rebound.

2️⃣ Institutional investors continue to increase positions Large investors have continued to add margin and expand long ZEC positions on HyperLiquid over the past week, including large USDC deposits of $4.49 million and $1.5 million. Well-known traders have also opened or expanded 10x leveraged long ZEC positions during the market rebound, with total floating profit across related accounts exceeding $2 million. This sustained inflow of institutional funds has provided strong support for ZEC’s price and reflects professional investors’ positive outlook on ZEC’s medium-term prospects.

3️⃣ Short-term market sentiment volatility exists ZEC price has been highly volatile over the past seven days, dropping to $383.41 on December 1 (down 17.81% in a day) and further declining to $338.89 on December 2, but has seen a strong rebound since December 4. Some traders who shorted at low prices have closed losing positions and switched to longs, indicating a rapid shift in market sentiment and short-term volatility in ZEC. Investors should pay attention to the final outcome of the SEC roundtable and subsequent moves of major holding addresses.

From a technical perspective, ZEC has successfully recovered lost ground around $390, indicating strong support at this level. In the long term, as a representative application of zero-knowledge proof technology in privacy protection, Zcash’s fundamentals are further strengthened as regulatory policy becomes clearer.

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