- ZEC climbed above $1,300, reaching an intraday peak close to $1,389 as purchasing momentum gathered steam.
- Roughly 2.4 million ZEC supported the NU7 proposals, alongside Paradigm co-founder Matt Huang revealing that his firm holds ZEC.
Privacy-centric cryptocurrency Zcash (ZEC) extended its ongoing upward trend by pushing past $1,300 on September 17 amid surging buy orders. Based on CoinGecko figures, ZEC touched an intraday peak of nearly $1,389 and changed hands around $1,360 during the most recent check. The digital asset advanced over 20% on September 16 and pressed forward into Thursday’s trading session.
This fresh push follows overwhelming support from Zcash holders for multiple adjustments tied to the upcoming NU7 network upgrade. Approximately 2.4 million ZEC—accounting for about two-thirds of all eligible tokens—participated in the governance poll.
Within the ballot measures, 99.9% of the participating ZEC backed shrinking Zcash’s block intervals from 75 seconds down to 25 seconds. An additional 98.9% voted to maintain the network’s traditional Bitcoin-style halving timeline. Furthermore, stakeholders approved postponing the reissuance of fees gathered via the Network Sustainability Mechanism until February 2031.
ZEC Rally Gains Institutional Attention
The community governance ballot coincided with newfound focus from prominent crypto investment enterprise Paradigm. Matt Huang, co-founder of Paradigm, posted on X (formerly Twitter) to reveal that the company holds ZEC, characterizing the asset as a privacy-centric counterpart to Bitcoin. His remarks arrived while ZEC was already experiencing steep upward movement.
Meanwhile, the wider cryptocurrency landscape rebounded following the Federal Reserve’s 25-basis-point rate hike, which brought its benchmark target to 3.75%-4%. Bitcoin reclaimed territory above $76,000, and several other leading digital currencies posted positive returns as well.
ZEC’s market capitalization expanded in tandem with its valuation. Figures from CoinGecko indicate the token’s market value stood near $22.6 billion on September 17, up from roughly $18.8 billion 24 hours prior. Furthermore, daily trading activity spiked to approximately $2.66 billion.
Chart-wise, ZEC has advanced swiftly from about $1,025 on September 4 to surpass $1,300, experiencing multiple heavy daily fluctuations along the way. Thursday’s high near $1,389 places the $1,400 threshold into the spotlight, whereas the $1,200 mark now serves as a key nearby support level following the breakout.
This aggressive surge positions ZEC far above its early-month baseline, making the upcoming trading windows critical for establishing whether this intense buying pressure can sustain itself after such a rapid advance.
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Frequently Asked Questions
What caused the recent surge in Zcash (ZEC) price?
The price rally was driven by accelerated buying activity, strong voter approval for the NU7 network upgrade proposals, and institutional interest after Paradigm co-founder Matt Huang disclosed that the firm holds ZEC.
What changes were approved in the Zcash NU7 governance vote?
Holders voted to reduce block times from 75 seconds to 25 seconds, preserve the Bitcoin-style halving schedule, and delay the reissuance of fees collected via the Network Sustainability Mechanism until February 2031.
How much did ZEC’s market capitalization increase?
CoinGecko data showed ZEC’s market value climbed to about $22.6 billion on September 17, up from roughly $18.8 billion the previous day.
