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Zcash rises to its highest level since 2016 amid ETF-linked rally

ZEC is up 45% over the past week, pushing market capitalization above $20 billion.

Reported · Written up by our desk · Altcoins

Cointelegraph reports that Zcash, traded as ZEC, hit its highest price level since 2016 as the token rally lifted its market capitalization above $20 billion.

According to Cointelegraph, ZEC has gained 45% over the past week, extending momentum that began after a key product change involving Grayscale’s Zcash holdings.

Cointelegraph says the rally followed Grayscale’s conversion of the Zcash Trust into an ETF, with the ETF starting trading on Aug. 25.

The outlet attributes the continued strength in ZEC to that ETF launch, which has helped drive renewed attention and inflows into the coin.

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