Zcash Climbs Above $1,600 as Privacy Products Expand Access
ZEC closed at $1,628.53 on Sept. 22, while new investment products launched in the U.S. and Europe. The price remains below its 2016 all-time high.
Zcash (ZEC) climbed above $1,600 in September amid new investment products and renewed public attention to privacy-focused crypto.
ZEC closed at $1,628.53 on Sept. 22, based on daily pricing in UTC. The move did not set an all-time record: Zcash reached $3,191.93 on Oct. 28, 2016.
Grayscale’s Zcash ETF began trading on NYSE Arca on Aug. 25 under the ticker ZCSH, giving U.S. investors a listed product tied to the privacy-focused cryptocurrency. 21Shares launched a physically backed Zcash exchange-traded product on Euronext Amsterdam and Euronext Paris on Sept. 21.
Paradigm co-founder Matt Huang described Zcash as “a private complement to Bitcoin” as the cryptocurrency gains renewed public attention. Zcash supports shielded transactions that use zero-knowledge proofs to protect transaction details.
The market activity coincides with proposed changes to the Zcash network. The NU7 upgrade would reduce target block spacing from 75 seconds to 25 seconds, although no activation date is confirmed in the proposal.
