主要洞察：
- Zcash crypto soars as high as $857, entering uncharted territory.
- 在灰度的助力下，大零币 ETF 或许会成为现实。
- 随着灰度将焦点投向隐私领域，ZEC 未平仓合约飙升至 15 亿美元。
Zcash crypto just joined the group of a select few digital assets that climbed to fresh all-time highs this week. The demand powering its upward trajectory stemmed from broader market excitement paired with hype surrounding a potential Zcash ETF.
Zcash crypto just experienced its most bullish week in the past 12 months. The privacy asset posted a 62% gain over the week, changing hands at $793 at the time of reporting.
尽管如此，该加密货币此前曾在周六上午触及 857 美元的峰值。这标志着大零币加密货币自诞生以来达到的最高价格水平。
值得注意的是，从周线图来看，ZEC 价格并未处于超买状态。相反，在日线图上，它深陷超买区间，达到了过去曾多次出现历史价格拐点的水平。
围绕 ZEC ETF 可能性的兴奋情绪推高大零币加密货币
A portion of the bullish momentum driving the ZEC crypto price this week likely arose from anticipation regarding a ZEC ETF. A recently issued Grayscale Zcash Trust filing indicated that a listing could occur on August 25.
The documentation disclosed that Grayscale’s Zcash Trust will transition into a Zcash ETF, with an official debut anticipated shortly. Furthermore, the filing showed that the ETF is slated for listing on 纽约证券交易所 Arca.
Grayscale previously filed an S-3 amendment stating that Coinbase will act as the custodian for the Zcash ETF. But what do these developments ultimately signify for Zcash crypto and its price behavior?
历史上，知名的 ETF 发行对资产估值有着重大的影响。正式推出前的几天通常会促使大量资金在事前积聚，这反映了经典的“买预期、卖事实”策略。
Consequently, the enthusiasm surrounding the upcoming Zcash ETF may have fueled the bullish momentum that pushed the privacy coin to unprecedented heights this week. However, because the ZEC crypto price was already elevated in overbought territory, further short-term upside could face limitations.
价格可能会出现回调，特别是如果更广泛的加密货币市场在经历近期的市场狂热后出现回落。
Zcash 加密货币未平仓合约飙升，凸显清算风险
Zcash spot volume displayed significant inflows during the latter half of the week. This represented the strongest weekly spot inflow activity recorded since November of last year.
However, data from CoinGlass revealed that robust spot market activity was accompanied by heavy derivatives trading. This was clearly reflected in a dramatic surge in ZEC open interest, which climbed from a low of $770 million at the beginning of August to $1.5 billion at the time of observation on CoinGlass.
Interestingly, open interest levels seen back in May exceeded current figures. More importantly, this jump in open interest coincided with the largest spike in positive funding rates witnessed year-to-date.
Positive funding rates indicate that market participants are heavily positioned for further upward movement. Stated differently, Zcash crypto likely accumulated a massive wave of long positions.
这款隐私币能否长期维持其看涨势头仍不确定，不过这种格局凸显了如果 ZEC 价格转向下跌，将面临大面积多头清算的高风险。
鉴于该资产已经超买并在上行方向过度延伸，获利回吐仍然是一个极大的可能。如果后续需求开始减弱，市场修正的概率将保持高位。
常见问题解答
Zcash 加密货币的历史最高价是多少？
Zcash reached an all-time high of $857 on Saturday morning.
拟议中的 Zcash ETF 预计何时推出？
一份 Grayscale Zcash Trust 的文件表明，上市可能会在 8 月 25 日进行。
Zcash ETF 将在哪里上市？
Zcash ETF 计划在 NYSE Arca 上市。
ZEC 的未平仓合约是多少？
根据 CoinGlass 的数据，ZEC 未平仓合约激增至 15 亿美元。
