Zcash Surges 2,500% in a Year: ZEC Price Hits $1,400, Market Cap Topps $23 Billion

• The price of Zcash has nearly reached the $1,400 mark.
• Over the past year, ZEC has surged by more than 2,500%, and over the past month — by more than 160%.
• Zcash’s market capitalization has surpassed $23 billion.

The price of Zcash (ZEC) has climbed to around $1,400, and the token’s market capitalization has surpassed $23 billion. Over the past year, the asset has gained more than 2,500%, and over the past month — more than 160%, according to CoinGecko.

ZEC’s sharp rally is accompanied by large-scale liquidations in the futures market. Over the past 24 hours, their total volume has exceeded $55 million, with around $49 million coming from short positions.

ZEC Holders Backed Changes to the Network

ZEC’s rise comes amid the NU7 governance vote, in which token holders backed a number of major network changes. Holders of nearly 2.4 million ZEC took part — about two-thirds of all coins eligible to vote.

The key decision was to cut block time from 75 to 25 seconds. The proposal received 99.9% support. This is expected to speed up private payments on the network.

The community also rejected a move to a smooth issuance model. A total of 98.9% of votes were cast in favor of keeping the classic halving schedule, similar to Bitcoin’s.

In addition, participants decided not to delay the NU7 release, and to push the reintroduction of accumulated fees into circulation under the NSM mechanism to February 2031.

The vote was conducted fully anonymously via the secure Ironwood pool. Ballots were encrypted and split into 16 parts, allowing user balances to be counted without revealing their personal data or wallet amounts.

ZEC Shorts Are Taking Heavy Losses

Amid ZEC’s rally, some traders have suffered significant losses due to short positions. According to Lookonchain, the largest onchain ZEC short seller, Garrett Jin, currently has more than $26 million in unrealized losses.

About 11 hours ago, he increased his short position. The trader is currently holding a short of 37,760 ZEC worth around $51.5 million. His liquidation price is $2,631.53.

Another trader about seven hours ago closed a long and opened a short position of 767.2 ZEC worth around $1 million. According to Lookonchain, this position was later fully liquidated.

As a reminder, we previously reported that Zcash mining became more profitable amid ZEC’s rise.

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