Zcash (ZEC) Rises to a 9-Day High as Whales Bet on Further Gains: Details

"ZEC is gearing up for a $2,000 run," one analyst envisioned. The cryptocurrency market has staged an evident resurgence over the past 24 hours, with Zcash (ZEC) once again among the top performers. Many analysts believe this marks the start of a major new rally, while some whales opened long positions worth millions of dollars. Explosion to $2,000 Comes Next? As of this writing, ZEC is worth just over $1,330 (per CoinGecko), up 13% for the day. By comparison, Bitcoin (BTC) has rebounded by 3%, while Ethereum (ETH) has risen by 4% within the same period. The privacy coin’s market capitalization stands at over $22 billion, solidifying its spot among the 10 biggest cryptocurrencies and widening the gap with Hyperliquid (HYPE), which ranks 11th. The most likely catalyst for ZEC’s latest price increase is the green wave sweeping the sector, but there may be more to it. The X account BSCN revealed that Zcash plans to triple its block production speed, with developers targeting November 5 for the NU7 upgrade. “The upgrade would cut block times from 75 seconds to 25 seconds. It would also temporarily remove 60% of transaction fees from circulation. The existing mining reward halving sched...