Zcash Hits Highest Price in Nearly a Decade, Crushing Short Bets

JUST IN: Zcash $ZEC hits its highest price in nearly a decade, topping $1,000 and crushing roughly $34.5 million in short bets as it climbs as much as 20% to $1,029.

Zcash just topped a thousand dollars for the first time in a decade. It ran as high as one thousand twenty nine on Friday, up twenty percent, and the break above a thousand force-closed about thirty four and a half million dollars in short bets. Everyone who bet against a 2016 privacy coin got carried out at once.

The setup came Thursday, when Fed Governor Christopher Waller said he'd be inclined to hold rates steady. Hike odds slid from sixty three percent to fifty, and more than four hundred fifteen million in crypto shorts got liquidated across the board.

Then Friday's monster jobs number yanked the rug back. Bitcoin dropped under eighty thousand on fresh hike bets. Zcash barely flinched, holding most of its gains while the biggest coin in the room gave everything back. A ten year old privacy coin is out-trading Bitcoin today, and nobody had that on their card.

This is Sara White, reporting for HIT.