Zcash (ZEC) surged over 17% in 24 hours, rising from $1,101 to $1,396, its highest level since November 2016. A trader identified as ‘0x3c83’ saw his short position of 767.2 ZEC, worth approximately $1 million, fully liquidated after taking the wrong side of the market. This rally was notably fueled by an overwhelmingly favorable governance vote: 99.9% of ZEC holders approved reducing block time from 75 to 25 seconds. ZEC’s market capitalization now stands at $22.98 billion, ranking ninth among top cryptocurrencies, with a 168% gain over 30 days.
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