ZEC (Zcash) 24-hour pump 13.28%

Gate News Bot news, October 30, according to CoinMarketCap data, as of the time of this report, ZEC (Zcash) is currently priced at 357.23 USD, with a 13.28% rise in the last 24 hours, reaching a high of 371.59 USD and a low of 229.18 USD. The current market capitalization is approximately 5.818 billion USD, an increase of 682 million USD compared to yesterday.

Zcash is a cryptographic digital currency that provides privacy-protecting electronic cash. It is the first cryptocurrency to develop zero-knowledge encryption technology for private peer-to-peer payments. Zcash uses end-to-end encryption to protect users' privacy rights. It is a decentralized protocol, meaning your funds are entirely under your control, rather than a bank's. Zcash's transaction speed is faster than Bitcoin, and transaction fees are usually only a few cents.

Important news about ZEC recently:

1️⃣ New Independent Core Team Established Helius Labs is forming a new independent core team for Zcash, focusing on scalability and security. This team, referred to as the privacy currency “Manhattan Project”, is hiring a CEO, chief engineer, and researchers. The formation of this new team demonstrates the Zcash community's emphasis on the project's technical upgrades, with hopes to drive breakthroughs in ZEC's privacy protection and performance.

2️⃣ The halving event is coming soon Zcash is expected to undergo a halving in November 2025. With the halving taking place, the issuance of Zcash is anticipated to decrease significantly, reducing the implied inflation rate from double digits in the early 2020s to single digits in the late 2020s. This event may have a significant impact on the supply of ZEC, thereby driving its market price rise.

3️⃣ Rising demand for privacy protection The supply of Zcash's shielded pool has risen to nearly 4 million ZEC, reflecting an increase in user demand for privacy protection. At the same time, the Ethereum Foundation has established a new privacy team, and the Office of Foreign Assets Control has lifted sanctions on decentralized privacy protocols, creating a favorable environment for the development of privacy coins like Zcash.

From a technical perspective, the ZEC price has risen significantly in the short term and may face some pullback pressure. However, from a fundamental standpoint, Zcash, as one of the major privacy coins, is expected to continue gaining market attention against the backdrop of rising demand for privacy protection. The upcoming halving event may also become an important factor supporting the ZEC price.

This message is not intended as investment advice; investors should be aware of market volatility risks.