Zcash Price Surges to New High, Sparking Concerns About Coordinated Squeeze

Market data shows that Zcash (ZEC) has experienced a significant surge, reaching an intraday peak of $686 after increasing by over 17% in six hours. This rapid growth has pushed its market capitalization above $11 billion, making it one of the top-performing cryptocurrencies in recent times.

The sudden rally has also triggered $28.25 million in liquidations and has sparked concerns about a coordinated squeeze. Critics argue that ZEC's price increase may be due to aggressive short positions being squeezed out rather than genuine demand.