Zcash Surges 47% as Altcoin Rally Continues Amid Crypto Regulatory Optimism
Zcash has emerged as the standout performer in the cryptocurrency market this year, driven by its focus on privacy and developments such as Grayscale's push to convert its Zcash Trust into a spot exchange-traded fund (ETF).
The token's price surged by 47.1% over the past 24 hours to reach $836 before retreating slightly to the $810 range, according to Cryptonews.net.
This rally is not confined to Zcash alone, as other altcoins such as Bitcoin Cash, Cardano, and Dogecoin also posted gains, with Bitcoin Cash rising by 31.4% to $299.49.
The broader market rally was fueled by U.S. President Donald Trump's renewed enthusiasm for the Digital Asset Market Clarity Act and a Treasury Department announcement to expand its long-dated bond buybacks, which eased yields and freed up liquidity for risk assets including crypto.