🔥 $ZEC 🔥
🚨 Single-day surge of 20%, institutions and large holders are joining forces to 'hunt' the shorts!
Just today, while the market is still in a dilemma, ZEC stands out, surging 20% in 24 hours, breaking through $414, with a weekly increase of nearly 30%! This is not just a simple rebound, but a long-planned 'value discovery'!
🚀 Three major bombshell positives, understand why this wave of market behavior is different:
1. Technical upgrades ignite demand: The Zcash core team has just proposed a dynamic fee model upgrade to address network congestion and high fee issues, which will greatly enhance the network's practicality and attractiveness to institutional users. Technological iteration is always the strongest engine for coin prices!
2. Institutions are going 'All in' with real money:
· The Winklevoss twins have established a ZEC treasury, accumulating over $80 million in ZEC since November, targeting to hold 5% of the circulating supply.
· The listed company Reliance Global Group has liquidated all other digital assets and converted them into ZEC.
· Grayscale has submitted an application to convert the existing Zcash trust into a spot ETF. The compliance door is opening!
3. Shorts are being 'trampled': On-chain data shows that the largest ZEC short on Hyperliquid is again facing massive losses as it continues to rise, being forced to partially close a short position of $1.24 million. A typical 'short squeeze', where short covering will in turn push prices further up!
💎 Technical aspect: Targeting $500!
Currently stabilizing at $400, the next clear target for bulls is to break through the 50-day EMA resistance at $412. Once it successfully closes above this level, the path to challenge the psychological barrier of $500 will become clear.
⚠️ The market is volatile, and investment needs to be rational.
When established strong projects like ZEC regain attention through new narratives, the market's risk appetite for funds will significantly increase. This sentiment may also spill over into other ecosystems, creating early opportunities based on strong community consensus (for example, the recently popular Musk's little dog concept).
🔥 Friends, do you think ZEC can surge to $500 in one go?
