Zcash Rallies 15% on CLARITY Act Failure, Eyes $1,500

Zcash has surged 15% in the past 24 hours to trade at $1,330 after the failure of the CLARITY Act in the US. The bill's inability to advance has left regulatory clarity for crypto market structures in limbo, pushing traders towards assets that don't rely on clear rules, such as privacy coins.

Paradigm co-founder Matt Huang added fuel to the move by disclosing his firm's ZEC position and describing Zcash as 'a private complement to Bitcoin.'

The bull case for Zcash suggests a retest of the $1,390 intraday high could open the path towards $1,500.