- ZEC climbed above $1,300, reaching an intraday high near $1,389 as buying activity accelerated.
- Nearly 2.4 million ZEC backed NU7 proposals, while Paradigm co-founder Matt Huang disclosed the firm owns ZEC.
Zcash (ZEC) has extended its recent rally, climbing above $1,300 on September 17 as buying activity accelerated across the privacy-focused cryptocurrency. ZEC reached an intraday high near $1,389 and was trading around $1,360 at the latest update, according to CoinGecko data. The token gained more than 20% on September 16 and has continued higher during Thursday’s session.
The latest move comes after Zcash holders overwhelmingly backed several changes for the network’s upcoming NU7 upgrade. Nearly 2.4 million ZEC, representing about two-thirds of eligible tokens, took part in the governance vote.
Among the proposals, 99.9% of participating ZEC supported reducing Zcash’s block time from 75 seconds to 25 seconds. Another 98.9% voted to preserve the network’s existing Bitcoin-style halving schedule. Holders also backed delaying the reissuance of fees collected through the Network Sustainability Mechanism until February 2031.
ZEC Rally Gains Institutional Attention
The governance vote has arrived alongside fresh attention from crypto investment firm Paradigm. Co-founder Matt Huang disclosed on X (formerly Twitter) that Paradigm owns ZEC and described the cryptocurrency as a privacy-focused complement to Bitcoin. His comments came as ZEC was already posting sharp gains.
The broader crypto market has also recovered following the Federal Reserve’s 25-basis-point rate increase, which took its benchmark range to 3.75%-4%. Bitcoin moved back above $76,000, while other major cryptocurrencies also recorded gains.
ZEC’s market cap has climbed alongside the price. CoinGecko data shows the token’s market value at about $22.6 billion on September 17, compared with roughly $18.8 billion a day earlier. Daily trading volume also jumped to about $2.66 billion.
From a price perspective, ZEC has moved rapidly from around $1,025 on September 4 to above $1,300, with several large daily swings along the way. The latest rally puts the $1,400 area in focus after Thursday’s high near $1,389, while the $1,200 region has become an important nearby level after the latest move.
The sharp rise means ZEC is now trading at levels far above where it stood earlier this month, making the next sessions important for determining whether the recent buying pressure can hold after such a fast move.
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