Zcash Soars on ETF Frenzy and Upgrade Boost

The price of Zcash (ZEC) surged by 4.5% in the last 30 hours, driven by ongoing ETF inflows and protocol upgrades.

Grayscale's Zcash ETF (ticker ZCSH) on NYSE Arca has accumulated around $900 million in assets under management with strong net inflows, directly tying traditional market demand to ZEC. Additionally, the recent 4% move sits on top of a larger rally, with ZEC up about 109% over the past 30 days and roughly 45% over the past week.

The price action in the last ~30 hours appears to be driven mostly by technical factors and derivatives positioning, not new fundamentals. Analysts frame the current move as a 'healthy correction' after an overstretched rally, with RSI dropping from overbought into the mid 60s but trend still bullish.

The recent upgrades, including the approval of NU7, which keeps Bitcoin-style halvings and introduces the Network Sustainability Mechanism, reinforce the 'hard cap, faster, private Bitcoin complement' narrative. The upgrade is expected to target shorter 25-second blocks, further contributing to ZEC's price increase.