ZEC grew rapidly in late August, with prices rising from about US$ 481 to an all-time high of US$ 880 by about 82 per cent. However, after touching the new highs, the price has fallen around $800, indicating a cooling of short-line recovery.
ETF was raised early before the market.
This round rises around Grayscale to launch Zcash spot ETF. The company converted Zcash Trust, which was established in 2017, into a spot ETF, and the product started trading in NYSE Arca on 25 August.
However, in terms of the price tempo, the market has clearly reacted in advance before the product was officially listed. ZEC rose from about US$ 509 to about US$ 852 between 18 August and 23 August, and in short days it rose by about 65 per cent.
The social heat's up and back.
The chain and emotional data also show that market attention reached a high point before ETF was listed. The data show that on August 22, ZEC ' s socialization reference increased to 232, about six times the August baseline level.
However, by the day the ETF is officially on line, the heat has returned to the normal area. Price performance also did not continue to accelerate after the events, suggesting that some of the funds might have been programmed before expected.
It's important to return $880.
After a new height, ZEC once fell to about $796, or about 6 per cent below. It's not too much, but it's also a reflection that the ETF listing did not immediately lead to a new, strong buyout.
In terms of current trends, the market continues to focus on whether the $880 line can be recovered. If the price returns to this position, the ZEC will again enter a zone that lacks clear upper resistance; if the purchase continues to slow, the recent surge may be turned into a consolidation.