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.