Zcash (ZEC) surged by nearly 65% over the past week, briefly hitting approximately $880 on August 23, its highest level since January 2018, now trading around $848 with a market capitalization exceeding $14 billion. Digital asset manager Grayscale revealed discussions about a contribution of roughly 200,000 ZEC to its Zcash Trust, with a conversion to an ETF scheduled for August 25. An analyst under the name Crypto with Harris warned of an imminent crash, estimating ZEC’s real value lies below $500, noting the price is already well above its daily averages and the upper Bollinger Band, indicating an extremely stretched move. Exchange flows show that inflows to centralized platforms have exceeded outflows in recent days, a bearish signal indicating increased selling pressure.
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