ZEC ‘Bubble’ Bigger Than 2021, CryptoQuant Data Shows
CryptoQuant data suggests Zcash (ZEC) is in an extreme bubble phase, with current metrics surpassing its 2021 peak.Summary
Ki Young Ju, CEO of CryptoQuant, warned retail investors that Zcash (ZEC) is exhibiting signs of entering an extreme bubble phase, noting that current trading metrics exceed those from its 2021 bull run peak. The analysis, based on the 'Zcash: Spot Volume Bubble Map,' identifies a Distribution Phase characterized by exceptionally high trading volume with slow price appreciation, indicating a massive turnover of tokens from long-term holders to new investors.
The chart shows that the previous major distribution period in early 2021 preceded a significant market downturn and price collapse. Alarmingly, the current ZEC bubble size is larger than the 2021 event. This warning comes as ZEC has surged over 750% in three months, fueling speculation across the privacy coin sector, amplified by figures like Arthur Hayes who predicted a $10,000 price target.
(Source：BeInCrypto)