Zcash (ZEC) posted one of the sharpest moves in the cryptocurrency market after the US Federal Reserve raised its policy interest rate by 25 basis points. On Binance, ZEC briefly climbed above $1,380 and traded around $1,333, gaining approximately 17.7% over 24 hours and reaching a market capitalization of about $22.5 billion.
The rally was not attributable to the Fed alone. Zcash also announced the results of its NU7 governance vote on the same day, adding a protocol-level catalyst. Updated market data showed ZEC hitting $1,347.74, up 7.8% in just 30 minutes from $1,250.2, with 24-hour trading volume exceeding $458 million and a daily range of $1,086.48 to $1,347.74.
Derivatives activity reinforced the move, as open interest, funding rates, and possible liquidation cascades added momentum. Traders are monitoring resistance near $1,400 and support near $1,250. Despite the surge, ZEC remains below historical highs: CoinGecko shows an October 2016 peak of about $3,192, while CoinMarketCap records approximately $5,942.
