Zcash rallies as price triples since July
Zcash has surged from $417 on July 1 to about $1,520 by September 22, a rise of roughly 3.6 times and about 72% in the past month. The bulk of the rally — to $1,337 by September 16 — occurred before Paradigm's public statement that it holds ZEC and supports the Zcash Open Development Lab. Cypherpunk holds 290,063 ZEC and aims for 5% of supply, and Grayscale has filed to convert its Zcash trust into an NYSE Arca ETF, any of which could create further demand while prices remain near record market value.
Zcash price has tripled since July and nears record market value
Context
Zcash rose significantly from July to September. Paradigm publicly said on September 16 that it holds ZEC. Approval of a Grayscale ETF or large buys by Cypherpunk could push demand higher or cause volatility.
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