Zcash Reaches Highest Price Since 2016 Amid Grayscale Listing
The price of Zcash (ZEC) reached $1,249.28 on September 6—the highest level since October 2016—driven by the recent listing of a new exchange-traded product focused solely on ZEC. The U.S.-listed Grayscale Zcash Trust (NYSE Arca: ZCSH), launched August 25, has fueled demand for the privacy-focused cryptocurrency, which surged over 55% in nearly two weeks following its debut. Despite this rally, ZEC remains far below its all-time high of $3,191.93 from October 2016 and is currently trading at around $1,159. The price increase has led to significant paper losses for short-sellers, with some holding positions worth tens of millions in unrealized losses.
Topics: Grayscale ETF Price Rally Privacy Coins Zcash