ZEC (Zcash) has risen 6.75% in the last 24 hours, with a market capitalization exceeding 7 billion USD.

Gate News Bot news, on November 4th, according to CoinMarketCap data, as of the time of this report, ZEC (Zcash) is currently priced at $430.54, with a rise of 6.75% within 24 hours, reaching a high of $445.15 and a low of $299.64. The 24-hour volume has reached $1.152 billion. The current market capitalization is approximately $7.012 billion, an increase of $444 million compared to yesterday.

Zcash is a cryptocurrency that is a form of encrypted electronic cash and is the first to implement zero-knowledge cryptography for peer-to-peer privacy payments. Zcash is accessible and usable by anyone on the internet. It employs end-to-end encryption to protect users' privacy rights. As a decentralized protocol, Zcash allows users to have complete control over their funds. Zcash transaction speeds are faster than Bitcoin, with transaction fees typically only a fraction of a cent. Zcash also supports sending private messages within transactions.

Important recent news about ZEC:

1️⃣ Market capitalization surpasses Monero, becoming the leading privacy coin ZEC's market capitalization has surpassed XMR for the first time, marking a shift in the landscape of the privacy coin market. Zcash's optional privacy mode provides it with flexibility, allowing users to choose between transparent and shielded transactions, a feature that makes ZEC more acceptable to regulators and beneficial for its adoption among institutional investors.

2️⃣ Large investors establish significant profitable long positions A large investor has established a 5x leveraged long position in ZEC on the Hyperliquid platform starting from October 26, with a holding of 21,978.9 ZEC (approximately 9.24 million USD). This position has currently achieved a return rate of 110.59%, making them the largest holder of ZEC long positions on the platform, reflecting the market's optimistic expectations for ZEC's short-term trend.

3️⃣ Zashi Wallet Privacy Feature Upgrade Plan Announced Electric Coin Company (ECC) released its roadmap for the fourth quarter of 2025, focusing on improving user privacy and usability of the Zashi wallet. Key planned features include temporary transparent address generation, address rotation, and multi-signature support. These upgrades will further enhance Zcash's privacy protection capabilities and are expected to attract more privacy-conscious users.

From a technical perspective, the ZEC price has shown a strong pump trend recently, but it may face short-term correction pressure. However, on the fundamental side, Zcash's position as one of the main privacy coins is continuously solidifying, coupled with its flexible privacy features and the upcoming halving event, which is expected to provide long-term support for the ZEC price. Investors should closely monitor the project's technical upgrade progress and changes in market sentiment.

This message is not intended as investment advice; investors should be aware of market volatility risks.