Zcash Price Rebounds Above $800 as Holders Vote on NU7 Upgrade

Zcash (ZEC) price has recovered to over $800 after a brief dip below $773, as holders weigh in on major changes to the network through a vote on the NU7 upgrade.

The recovery comes during a sharp weekly rally for ZEC, which remains below its recent peak near $890. The current price of around $826 suggests that buyers are pushing back against sellers, but it's unclear if this will be enough to break through resistance at $850-$880 and reach the recent high.

The NU7 upgrade is a major development for Zcash, with coinholders voting on five key questions. One proposal would reduce the network's block time from 75 seconds to 25 seconds, which could significantly improve transaction processing times. Another proposal aims to replace the current four-year halving cycle with a smoother reduction in new issuance, giving miners and users greater certainty.

Cypherpunk Technologies has published its recommended positions on all five questions, strongly supporting faster blocks based on test results showing that the network can handle the change.