Zcash surges 13% to $460 as a dynamic fee proposal, whale accumulation, and Cypherpunk’s growing ZEC treasury tighten supply below a key resistance zone.
Summary
- Zcash price rallied 13% to $460, with market cap and 24h volume spiking as price decoupled from a largely flat crypto market.
- Developers and Shielded Labs proposed shifting from fixed fees to a dynamic fee market to cut costs and improve efficiency during congestion.
- Cypherpunk expanded its ZEC treasury, while a large holder sent tokens to Hyperliquid to go long as ZEC tests multi-touch resistance on Crypto Pulse charts.
Zcash (ZEC) price climbed 13% to reach $460, outperforming broader cryptocurrency markets that have traded sideways in recent sessions, according to market data.
The privacy-focused cryptocurrency’s market capitalization increased alongside a surge in 24-hour trading volume, data from trading platforms showed.
The rally follows a dynamic fee proposal announced by Zcash developers and Shielded Labs. The proposal seeks to replace the network’s static transaction fee structure with a dynamic fee market system, aimed at reducing costs and improving transaction efficiency during periods of high network activity, according to the development team’s announcement.
ZCash price surges after shifting from fixed to dynamic fees
Trading volume data indicated heightened participation from both retail and institutional market participants over the 24-hour period. Cypherpunk Technologies expanded its Zcash holdings and appointed Zcash founder Zooko Wilcox as an advisor, the company confirmed.
On-chain data revealed significant accumulation by large wallet holders. One major wallet holder increased its position and transferred tokens to Hyperliquid to establish long positions, blockchain analytics showed. Such accumulation typically reduces circulating supply available for trading.
Zcash currently trades below a resistance level that has previously capped multiple rallies, according to technical analysis from trader Crypto Pulse. A breakout above this zone could lead to further gains toward previous cycle highs, while failure to breach resistance may result in a pullback to nearby support levels, technical indicators suggest.
The cryptocurrency’s price movement stands in contrast to the broader digital asset market, which has shown limited directional momentum in recent trading sessions.
Source: https://crypto.news/zcash-price-jumps-13-to-460-as-dynamic-fee-market-and-cypherpunk-bids-hit-supply/
