- ZEC climbed past $1,300, touching an intraday peak close to $1,389 as purchasing momentum intensified.
- Roughly 2.4 million ZEC supported NU7 initiatives, and Paradigm co-founder Matt Huang revealed that the company holds ZEC.
Zcash (ZEC) extended its upward trajectory on September 17, breaking past $1,300 amid a surge in buying pressure for the privacy-centric digital asset. CoinGecko figures show that ZEC touched an intraday peak near $1,389 before changing hands at approximately $1,360 during the most recent update. The cryptocurrency advanced over 20% on September 16 and maintained its upward momentum through Thursday’s trading session.
This latest price movement follows strong support from Zcash holders for a series of modifications tied to the upcoming NU7 network upgrade. Approximately 2.4 million ZEC—accounting for roughly two-thirds of the supply eligible to vote—participated in the governance decision.
Within the ballot measures, 99.9% of the participating ZEC backed cutting the Zcash block time down from 75 seconds to 25 seconds. An additional 98.9% voted in favor of maintaining the platform’s traditional Bitcoin-style halving schedule. Furthermore, participants endorsed postponing the reissue of fees gathered via the Network Sustainability Mechanism until February 2031.
ZEC Rally Gains Institutional Attention
This community governance vote coincided with renewed interest from cryptocurrency investment firm Paradigm. Matt Huang, a co-founder of Paradigm, posted on X (formerly Twitter) to confirm that the firm holds ZEC, characterizing the asset as a privacy-oriented alternative that complements Bitcoin. His statements arrived just as ZEC was experiencing steep increases.
The wider cryptocurrency market has similarly bounced back following the Federal Reserve’s 25-basis-point interest rate hike, which brought the benchmark target range to 3.75%-4%. Bitcoin climbed back past $76,000 alongside upward movements across other leading cryptocurrencies.
ZEC’s market capitalization has expanded in tandem with its valuation. According to CoinGecko metrics, the token’s total market value reached approximately $22.6 billion on September 17, up from roughly $18.8 billion just 24 hours prior. Meanwhile, daily trading volume surged to roughly $2.66 billion.
Looking at market charts, ZEC has advanced quickly from near $1,025 on September 4 to above $1,300, marked by multiple sizable daily fluctuations. Following Thursday’s high near $1,389, the $1,400 threshold becomes a key level to watch, whereas the $1,200 area serves as a significant immediate support zone following the recent advance.
Because of this dramatic price escalation, ZEC is currently changing hands far above its earlier monthly baseline, making the upcoming sessions critical for deciding whether this intense buying interest can sustain itself after such a rapid ascent.
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