Zcash Price Hits $1,200 After 37% Weekly Rally Altcoin News ETHNews

Zcash (ZEC) surged above $1,200 on September 6, extending a climb that cleared $1,000 days earlier and added about 37% in seven days. Over the past year, the token is up nearly 2,300%. The move pushed ZEC’s market value to roughly $20.04 billion, making it the tenth-largest cryptocurrency, ahead of Dogecoin. The rally also triggered leverage liquidations: $48.10 million were wiped out across derivatives in a single day, the highest on CoinGlass’ heatmap, mostly tied to short positions. Institutional demand has been a key driver, including a Grayscale spot ETF on NYSE Arca launched August 25 and Cypherpunk Technologies’ accumulating strategy.