Zcash Surges Past $1,000 Amid Strong Market Moves
- Zcash (ZEC) reached a high of $1,046 on September 4, securing a market cap of $17 billion, ranking it above dogecoin.
- Grayscale’s ZCSH ETF has grown to $414.7 million since its launch on August 25, following the liquidation of $34.5 million in ZEC short positions.
- Key figures such as Bitwise’s Matt Hougan and Alliance DAO’s Qiao Wang have identified bitcoin and zcash as core holdings in the current market environment.
- Arthur Hayes highlighted ZEC’s performance with a chart showing its rise from near $250 in early June to over $1,000 by September.
Zcash’s recent surge past the $1,000 mark reflects significant growth with a year-on-year increase of approximately 2,296%. This movement has been supported by the expansion of Grayscale’s ETF and notable endorsements from industry leaders.
The privacy coin’s impressive performance highlights its appeal as a strategic investment alongside bitcoin for both privacy and currency debasement concerns. (Source)
