Following the US Federal Reserve’s (FED) 25 basis point increase in its policy interest rate, one of the most notable movements in the cryptocurrency market occurred in Zcash (ZEC). The price of ZEC surged sharply in a short time, surpassing $1,380 on Binance.
ZEC has risen by approximately 17.7% in the last 24 hours, trading around $1,333, with a market capitalization reaching approximately $22.5 billion. However, this movement is not solely attributed to the Fed’s decision. On the Zcash front, the results of the NU7 governance vote, announced on the same day, also stood out as a significant development supporting the price.
On the other hand, the current price level is not Zcash’s all-time high. CoinGecko data shows that ZEC reached a historical peak of approximately $3,192 in October 2016, while CoinMarketCap shows it at approximately $5,942.
*This is not investment advice.
