Zcash Surges 28% in Trading Volume, Outpaces Bitcoin, Ethereum, and Hyperliquid

[Digitaltoday AI Reporter] Zcash saw its 24-hour trading volume increase by more than 28%, showing a notable rise among major cryptocurrencies. According to blockchain media Today, Zcash demonstrated a leading trend in trading activity compared to Bitcoin and Ethereum. Derivatives market data showed Zcash's trading volume increased by about 32%, while Ethereum's volume dropped nearly 10% and Bitcoin rose about 5%. Contrary to the relatively quiet trend over the past few weeks, trading activity has rapidly picked up, indicating renewed market participation. The price movement also supported the recovery. Zcash held its 200-day moving average support line and crossed above the $500 level, currently trading above the 50-day, 100-day, and 200-day moving average lines. This recovery is notable as it came after a significant expansion in network volatility. Despite the temporary market trust shaken by the inflation bug incident, buying interest has resumed. Open interest also increased by over 26%, indicating active new position entries. However, short-term resistance remains. Zcash's next resistance level is between $520 and $550. Breaking through this range could bring it closer to the all-time high recorded at the start of the quarter. Given the recent rebound has pushed momentum indicators to high levels, caution is advised regarding the potential for increased volatility, as reported by the media.