Zcash Rallies to Eight-Year High Before Retreating Below $820

Zcash has reached an eight-year high near $885 before retreating below $820. The price surge of over 70% in the past week was driven by Grayscale's ETF conversion plan and an NU7 governance vote.

The rally accelerated after ZEC cleared $562.50, breaking above its previous trading range on the daily chart. Buyers then pushed through successive levels at $625, $687.50, and $750.

Grayscale is seeking to convert its Zcash Trust into an NYSE Arca-listed spot ETF. The proposed structure would give eligible US investors exposure to ZEC through a regulated brokerage product without requiring them to hold the token directly.