The post Why Is Zcash (ZEC) Up Today? Price Jumps 13% to Hit $460 appeared first on Coinpedia Fintech News
Zcash ZEC is one of today’s most trending cryptocurrencies in the crypto market, jumping about 13% and trading around $460. The rally has pushed ZEC’s market cap above $7.5 billion, with trading volume surging over $1.14 billion in the past 24 hours.
While overall cryptocurrencies are moving sideways and struggling to rally upwards, ZEC is outperforming them.
So, what’s behind this jump? Will it continue its rally or dip?
Zcash Dynamic Fee Proposal Boosts Confidence
One of the main reasons ZEC is rising is the new dynamic fee proposal from the Zcash developer team. Developers and Shielded Labs propose to replace Zcash’s old static transaction fees with a dynamic fee market system, which sometimes causes high or unpredictable transaction costs.
The goal is to make transactions cheaper and smoother during busy times. This update has caught traders’ attention and is seen as a strong step forward for the project.
Strong Market Activity Boosts Institutional Interest
Another factor supporting ZEC’s rise is the jump in trading activity. Market data shows ZEC’s 24-hour volume surged by 26% to $1.14 billion, showing stronger interest from both retail and professional traders.
This growing activity has also encouraged more institutional attention. Cypherpunk Technologies has expanded its ZEC holdings, which has helped highlight the token’s long-term value.
On top of it, Cypherpunk added Zcash founder Zooko Wilcox as an advisor.
Whale Activity Heavily Supports the Price
Interestingly, large holders and whale investors have also played a big role in today’s rise. On-chain data shows heavy accumulation, around $100 million worth of ZEC. Another big wallet increased its position from 31,000 to 45,000 ZEC, sending tokens to Hyperliquid to open long positions.
This kind of buying reduces available supply and often pushes the price higher as demand grows.
Zcash ZEC Price Outlook
After this sudden rise, ZEC now sits right below a resistance area that has been difficult to cross in the past. According to trader Crypto Pulse, this zone has stopped several strong rallies before, each time sending the price lower.
If ZEC breaks above the $460 level, it could trigger a bigger rally toward the $600 level, which acted as an important area in earlier cycles.
Meanwhile, technical indicators like RSI are sitting around 57, showing there is still room for the price to move higher.
But if ZEC fails to break through again, it may fall back toward the $370 support area.
Source: https://coinpedia.org/news/why-is-zcash-zec-up-today-price-jumps-13-to-hit-460/
