Zcash Rallies 23% on Strong Governance Vote and Fed Rate Hike

Zcash (ZEC) has surged 23% to $1,369 after the Federal Reserve's latest rate hike, outperforming Bitcoin and Solana. This sudden rally comes as a result of strong governance participation in Zcash's NU7 vote, which delivered overwhelming support from holders.

Nearly 2.4 million ZEC took part in the process, exceeding the required one million ZEC participation threshold. Around 99.9% of participating ZEC supported shorter block times, reducing intervals from 75 seconds to 25 seconds, while 98.9% backed keeping the current reward structure and mining rewards will continue falling at scheduled intervals.

The NU7 vote arrived alongside a broader crypto market rebound after the Federal Reserve raised rates by 25 basis points, moving the target range between 3.75% and 4%. This development could support future demand for ZEC, especially with Ledger integration on the horizon, which will allow users to protect transaction details during network activity.

However, analysts warn that technical resistance after the latest surge remains a concern. Crypto Patel highlighted bearish momentum divergence near $1,300 and identified $800 as initial support for a deeper correction, while placing major demand around $500.