Zcash Surges 17% Amid Grayscale's Listing Plans

Zcash has surged by 17.49% in price to reach $668.60 on Friday, making it one of the top gainers in the cryptocurrency market.

The positive price move comes days after Grayscale announced its plan to list the Zcash Trust on NYSE Arca under the ticker ZCSH.

The listing plan includes a proposed arrangement where Grayscale will contribute approximately 200,000 ZEC through an authorized participant in exchange for trust shares. However, this proposal is non-binding and may change in the future.

A separate engineering update by Zakura also promises faster performance for Zcash wallets, with hashing processes used by nodes made more than 15x faster than its starting implementation.