Zcash (ZEC) crossed the $1,000 mark for the first time in nearly a decade, briefly reaching $1,045 and pushing its market capitalization to approximately $17 billion. The privacy-focused cryptocurrency surged nearly 100% over the past month, driven by Grayscale’s late August Zcash ETF launch and renewed demand for private transactions. About $34.5 million in ZEC short positions were liquidated during the rally, with traders forced to cover their shorts adding momentum to the upward move. Total ZEC open interest has climbed to $2.4 billion, while the daily RSI hovered near 80, indicating a potentially overbought market.
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