ZEC ‘Bubble’ Bigger Than 2021, CryptoQuant Data Shows

Core Insights - Zcash (ZEC) is showing signs of entering an extreme bubble phase, with current trading metrics surpassing those recorded during its 2021 bull run peak [1][4] - The CEO of CryptoQuant warns retail investors about the risks associated with buying ZEC at this time, indicating that the market may be nearing a collapse similar to that of 2021 [1][4] Trading Volume and Market Dynamics - The analysis highlights a Distribution Phase characterized by high trading volume but slow price appreciation, indicating new investors are entering the market and seasoned holders are selling [2] - A significant turnover period was observed in the first half of 2021, leading to a price surge towards $300 per coin, followed by a market-wide downcycle [3] Current Market Metrics - Recent trading volume and price action for ZEC indicate a larger bubble size than that seen in early 2021, raising concerns about a potential repeat of the previous collapse [4] - ZEC has experienced a remarkable increase of over 750% in the last three months, attracting attention across the privacy coin sector [5] Speculative Sentiment - High-profile endorsements have fueled speculation around ZEC, with predictions of the price reaching as high as $10,000 per coin, despite its current trading price around $328 [6]