Zcash leads crypto market rebound, surging 8.5% in 24 hours to $1215.85, Bitcoin reclaims $83,000.
The cryptocurrency market saw a broad rebound on Tuesday, driven by a tech stock rally and renewed inflows into Bitcoin ETFs. Privacy coin Zcash led the market, surging 8.5% in the past 24 hours to $1215.85, with its market capitalization reaching $20.57 billion. Bitcoin rose 1.6% to $83195, and Ethereum gained 2.90% to $2463.35. Bitcoin ETFs recorded a net inflow of $526.7 million, the largest single-day inflow in nearly a month. Zcash's strong performance is partly attributed to an oversold bounce after a roughly 25% decline over the previous month, as well as potential catalysts such as developers' upcoming decision on the NU7 network upgrade.
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