Zcash (ZEC) hit a peak of $1,200 earlier today, marking a 370% surge since the June low. After plunging 60% in a single day following the disclosure of a vulnerability in the Orchard privacy pool, the token rebounded and stabilized around $500 for several months. The August 19 market-wide breakout propelled ZEC to $900, and the upward trend continued until breaking through the $1,200 threshold for the first time in nearly ten years. The market capitalization now exceeds $20 billion, surpassing HYPE and DOGE. Grayscale’s Zcash ETF, launched on August 25, has already attracted $34.4 million in net inflows, while $46 million in short positions were liquidated in 24 hours.
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