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Social media mentions of ZEC surged ahead of Grayscale’s spot ETF launch and then quickly fell back, according to on-chain analytics platform Santiment.
ZEC rose about 65% from around $509 on Aug. 18 to about $852 on Aug. 23. Social media mentions climbed to 232 on Aug. 22, roughly six times the August average, but dropped back to typical levels on Aug. 25, when ETF trading began.