ZEC Token Plunges 12.62% Amid Surging Futures Volume and Market Turbulence on Binance

ZECUSDT experienced a sharp 12.62% decline over the past 24 hours, with the current price at 569.09 on Binance, following a period of extreme volatility and a recent multi-year high driven by increased demand for privacy features, significant whale activity, and broader market uncertainty linked to the U.S. government shutdown. The surge in shielded transactions and institutional interest contributed to the rally, but technical indicators now show ZEC in overbought territory, prompting large short position liquidations and heightened risk of correction. Trading volume remains elevated, and open interest in ZEC futures has surpassed $1 billion, reflecting strong speculative activity and ongoing market turbulence.