ZEC, CC, FLOKI, and LUNC have become top gainers in the crypto market over the last 24 hours. This comes despite a slight consolidation in the broader market.
The total crypto market was falling by 1.1%, yet these altcoins reported strong performance. In the meantime, the leading assets such as BTC, ETH, and SOL are trading above the line of support.
Let’s uncover why these top altcoins are pumping.
ZEC Price Soars 20% in 24 Hours, Eyes $500 Resistance
Zcash (ZEC) price surged to $414, reflecting a 20% rise in 24 hours and nearly 30% weekly. The technical signs indicate a sharp increase, and the strong support is at $400. This is an increasing trend after a proposal to streamline the system of fees within the network.
Developers are also thinking of substituting the fixed fee with a dynamic system of a median cost. The aim of this change is to meet the increased demand and market changes. In case ZEC is able to break above the price of $410, it may break up to the level of $500, which is one of the psychological levels.
Canton Price Surges Towards $0.10 Resistance
Canton, $CC token, has been on a strong trend with the current price of $0.07267, that indicates an increase of 10% in the past 24 hours. This spurt is a gain of 17% and this is better than the general cryptocurrency market.
The upsurge can be explained by the increase in the demand and optimistic volume of trade, indicating a change in the interest of investors.
The token has recently overcome its resistance of $0.065 and is at the verge of gaining to the level of 0.10, which is a key level to achieve further growth. Following three days of recovery, which saw a 15% rise, $CC escaped a falling pattern of channels on its 4-hour chart.
Liquidity in the key exchanges has been enhanced, and the order flow is more balanced, which means that there is a possibility of the further upward trend.
FLOKI Price Surges Following European ETP Launch
ZEC, CC, FLOKI, and LUNC: FLOKI price rose to $0.00004913, reflecting a 5% increase over the past 24 hours. The volume of trading increased 110%, to reach at $101.75 million.
This is after the introduction of the first FLOKI ETP in Europe, which increased its viability in the eyes of institutional investors. Technical analysis is a good indicator of the optimistic future, and the forecast that the price will increase by half in the nearest future.
LUNC Price Jumps 20% Amid Network Upgrade
The LUNC price is among the top gainers over the past 24 hours, rising more than 20%. At the time of writing, the LUNC price traded at $0.00005950, with a strong surge.
This growth is in case the Terra Luna Classic community votes on a significant network upgrade. The plan is known as the upgrade to v3.6.1, which is aimed at enhancements of the blockchain regarding its security, performance, and compatibility
It requests validation of the community and the validators to update the terrald client. Provided that it is passed, the upgrade will bring immense changes to the functionality of the Terra Luna Classic network.
What’s Next For ZEC, CC, FLOKI, and LUNC?
In conclusion, ZEC, CC, FLOKI, and LUNC price surges are driven by major developments. These involve network upgrades, better liquidity, and institutional support. The market sentiment is increasing, and the further potential of the upward movement will rely on the adoption and implementation of proposals.
Source: https://coingape.com/trending/why-zec-cc-floki-and-lunc-prices-are-pumping-today/
