ZCash Price Surges 30% as Puell Multiple Hits All-Time High

ZCash (ZEC) has demonstrated strong performance, reaching new price highs despite a decline in the general digital asset market. Recently, ZCash entered the top 20 largest cryptocurrencies by market cap.

ZCash Puell Multiple and Hash Rate

  • ZCash's Puell Multiple reached an all-time high, indicating high miner profitability.
  • Significant upward movement suggests potential for further price increases.
  • The ZCash Hash Rate is rapidly increasing, showing more resources are being devoted to the network.
  • These metrics indicate robust network fundamentals and suggest the price growth is not merely speculative.

ZCash

ZEC Price Outlook

  • ZCash currently trades around $714, with a 30% increase over the past 24 hours.
  • The coin has shown a 1,500% increase over the past year, marking its second-strongest annual performance.
  • Projections suggest a potential rise to $1,650, indicating heightened market euphoria.

ZCash