#ZECBreaksAbove$1600AtRecordHigh
ZEC Breaks Above $1,600 at Record High
Zcash (ZEC) extended its powerful rally on September 23, breaking above the $1,600 level and reaching around $1,647, according to HTX data. ZEC was up roughly 11.3% over 24 hours at the reported high. �
Gate.com
The move continues an extraordinary September rally for Zcash. ZEC had already climbed above $1,000 earlier this month and reached a new high near $1,400 on September 17. �
Luno +1
What is driving ZEC?
Several factors have supported the rally:
Growing demand for privacy-focused cryptocurrencies
The launch of Grayscale's spot Zcash exchange-traded product (ZCSH) in August
Increased attention toward Zcash's shielded-transaction technology
Strong momentum across the broader cryptocurrency market �
Luno
There is an important historical qualification to the “record high” description: some price databases show a much higher 2016 launch-era print, when Zcash had extremely limited trading liquidity. For the broadly traded modern market, however, the current move represents a new record. �
WalletInvestor +1
ZEC's breakout above $1,600 puts the cryptocurrency firmly back in focus after years below its early trading levels. The next phase will depend on whether the rally can maintain liquidity and demand after such a rapid advance.$GOOGL.US $NVDAB
ZEC Breaks Above $1,600 at Record High
Zcash (ZEC) extended its powerful rally on September 23, breaking above the $1,600 level and reaching around $1,647, according to HTX data. ZEC was up roughly 11.3% over 24 hours at the reported high. �
Gate.com
The move continues an extraordinary September rally for Zcash. ZEC had already climbed above $1,000 earlier this month and reached a new high near $1,400 on September 17. �
Luno +1
What is driving ZEC?
Several factors have supported the rally:
Growing demand for privacy-focused cryptocurrencies
The launch of Grayscale's spot Zcash exchange-traded product (ZCSH) in August
Increased attention toward Zcash's shielded-transaction technology
Strong momentum across the broader cryptocurrency market �
Luno
There is an important historical qualification to the “record high” description: some price databases show a much higher 2016 launch-era print, when Zcash had extremely limited trading liquidity. For the broadly traded modern market, however, the current move represents a new record. �
WalletInvestor +1
ZEC's breakout above $1,600 puts the cryptocurrency firmly back in focus after years below its early trading levels. The next phase will depend on whether the rally can maintain liquidity and demand after such a rapid advance.$GOOGL.US $NVDAB