Crypto: ZEC Euphoria Fades Just Ahead of the ETF Launch

Zcash has just experienced a strange week. The crypto ZEC climbed about 72% between August 18 and 23, reaching 878 dollars. Discussions on social media exploded even faster. Then almost everything fell back before the launch of Grayscale’s ETF on August 25. The price has since corrected by about 10%.

In brief

The crypto Zcash explodes before the ETF arrival

Grayscale finally launched the first Zcash ETF listed in the United States on August 25 on NYSE Arca, under the ticker ZCSH. The market had started moving well before. The crypto ZEC was worth about 509 dollars on August 18. Five days later: 878 dollars. The increase reaches about 72%.

Social media followed. Santiment counted 232 mentions of Zcash on August 22, nearly six times the average seen since the beginning of the month. The peak of discussions thus comes before the price peak.

Then the noise disappears. On August 25, the day of the ETF launch, mentions had returned almost exactly to their usual level. The crypto ETF arrives. The crowd had already turned the page.