Zcash Breaks Above $1,200 in Massive Price Surge

Zcash just hit an intraday high of $1,249, marking its strongest price point since the final quarter of 2016. The privacy coin climbed past the $1,200 mark on Sunday, delivering a weekly return of more than 45 percent for holders. This movement pushed the total market capitalization for the asset to $20 billion.

Increased volatility accompanied this rally as derivatives liquidations spiked across the market. The sudden price jump places Zcash well ahead of most major cryptocurrencies in terms of weekly performance. Traders are currently monitoring the asset closely to see if it can hold these levels or if a correction is ahead.

Investors are now watching to see how the market absorbs this significant growth. With liquidations rising, the coming days will show whether this momentum has enough fuel to continue or if profit taking will pull the price back down.