Zcash Skyrockets 140% on ETF Launch and Ironwood Upgrade

Zcash has surged by 140% in just one month, pushing its price to $1,249, a level not seen since 2016. The token's value rose by 45% in one week alone.

The rally is attributed to the launch of the first ZEC spot ETF in the U.S., which accumulated nearly $463 million in assets within two weeks. This increase in demand combined with limited supply has sustained the upward pressure on the token's price.

The Ironwood upgrade, implemented in July, also played a significant role in the recovery. The improvement closed the legacy pool, forced coins through a public turnstile for total supply auditing, and introduced recoverable notes against quantum threats.

However, not everyone shares the enthusiasm for Zcash's rally. Chun Wang, founder of F2Pool, dismissed it as a 'bet narrative' and questioned the network's reward model and non-default privacy. He argued that a rising market cap does not necessarily mean a coin has earned its place among top networks like Solana or Hyperliquid.