Overview
- ZEC traded in the $600–$700 range after touching nearly $735, securing a top‑20 market cap near $10–11 billion and then retracing on profit‑taking.
- Daily spot volume topped $1.8 billion with deep liquidity and rising open interest on Binance, Hyperliquid and Bybit, and more than $50 million in ZEC positions were liquidated during Friday’s spike.
- Shielded usage hit cycle highs, with roughly 20–25% of circulating supply held in encrypted addresses and about 30% of transactions private, helped by the Zashi wallet and Project Tachyon upgrades.
- Miner metrics strengthened as the Puell Multiple reached an all‑time high and hash rate climbed, with traders also watching a mid‑November reward halving that could tighten supply.
- Risk signals are elevated, with overbought readings and fresh warnings from analysts about sharp swings and potential pullbacks, including scenarios that revisit support near $325 if resistance persists.