Zcash (ZEC) has officially reached its highest price in eight years.
The $ZEC has risen 47% to reach $865, a level it has not seen since January 2018, according to CoinDesk.
In June, the coin collapsed to $250 after artificial intelligence discovered a serious vulnerability in the ability to counterfeit coins that had been present for four years.
Since then, the coin has risen 3.4 times compared to its lowest levels.
The uptrend accelerated after Grayscale filed an application to convert its Zcash Trust fund into the first spot ZEC ETF in the United States, according to The Block.
Despite this rally, ZEC is still down about 73% from its all-time high of $3,191.
The $ZEC has risen 47% to reach $865, a level it has not seen since January 2018, according to CoinDesk.
In June, the coin collapsed to $250 after artificial intelligence discovered a serious vulnerability in the ability to counterfeit coins that had been present for four years.
Since then, the coin has risen 3.4 times compared to its lowest levels.
The uptrend accelerated after Grayscale filed an application to convert its Zcash Trust fund into the first spot ZEC ETF in the United States, according to The Block.
Despite this rally, ZEC is still down about 73% from its all-time high of $3,191.