#Gate广场五月交易分享

Is the bullish momentum still strong? - Zcash Market Analysis
The price of Zcash (ZEC) fell back below $550 on Friday morning, approaching $530, due to profit-taking in the market. This pullback coincides with active activity in the derivatives market, analysts say, as traders continue to adjust leverage and positions in response to the recent rebound of the token. Market data shows that Zcash dropped to $532 in the past 24 hours, after previously breaking above $570. Grayscale stated that an article in The Wall Street Journal comparing Bitcoin and Zcash could spark broader investor interest. Despite a slight decline in daily trading volume, Zcash's spot trading volume remains close to $256 million, while futures trading volume exceeds $2.7 billion, indicating that speculative activity remains active. Over $5.1 million worth of Zcash futures positions were liquidated in the past 24 hours, with open interest around $978 million, down from $1.52 billion on May 9. Analysts point out that if the bulls can hold the $500 level, ZEC may retest resistance above $700.