ZEC reached $1,388 on September 17 before falling back to around $1,368. This rise followed a vote on the Zcash network upgrade NU7, where 98.9% of voters chose to keep halvings instead of smoothing the emission of new tokens. Approximately 2.4 million ZEC, representing 66% of eligible tokens, participated in the vote which also addressed block duration and the future of the Sprout system. Additionally, 96.6% of participants supported recycling fees to miners starting in February 2031. ZEC was up more than 2,500% year-over-year at the time of the quotes, amid Grayscale launching a Zcash fund traded under the symbol ZCSH this summer.
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