Zcash Hits Eight-Year High as Futures Bets Nearly Double
In briefZcash reached its highest price since 2018 after gaining more than 50% in four days.Open interest in ZEC perpetual futures rose from $963 million to $1.8 billion in five days.Crowded futures markets can intensify both short squeezes and selloffs. Zcash briefly reached $888—its highest price level since 2018—before pulling back to around $843, up nearly 7% over 24 hours and roughly 48% since August 20. The privacy coin, which trades as ZEC, remains well short of a record all-time high of $3,191.93, set in October 2016 during the coins earliest days of trading when liquidity was thin. The coin dropped as low as $16 just two years ago and has been on a remarkable run since, appreciating by over 1,800% in the last year alone. Myriad: Bitcoin next price move? Click to make your prediction. ZEC perpetual futures open interest nearly doubled from $962.5 million on August 19 to $1.8 billion Monday, while 24-hour volume reached $5.3 billion, according to crypto derivatives data platform Loris Tools. The average eight-hour funding rate was 0.0106%, meaning traders paid a premium to hold long positions. ZEC futures let traders bet on Zcashs price without owning the coin, often with leverage. Open interest tracks outstanding contracts, while positive









