Zcash Price Soars to $1,249 as F2Pool Founder Questions Rally Narrative
Zcash (ZEC) has seen its price climb about 45% in a week and 140% over the month, briefly entering the top 10 by market capitalization.
The ZEC price reached $1,249, its highest level since 2016, before pulling back towards $1,145. The rally has been driven by ETF demand, the Ironwood upgrade, short liquidations, and renewed interest in privacy.
F2Pool founder Chun Wang has called the rally a 'narrative bid', questioning whether Zcash has earned its place alongside networks like Solana or Hyperliquid.
Wang pointed to Zcash's handling of early rewards, with 20% of each block reward going to the Founders' Reward during its first four years. This amount to about 2.1 million ZEC, equal to 10% of the eventual 21 million supply.
The Ironwood upgrade in July closed the legacy pool and required coins to pass through a public turnstile, making the total supply easier to audit. It also introduced quantum recoverable notes.