ZEC (Zcash) Surges 36% Amid NU7 Upgrade Details and Paradigm Investment Disclosure

ZEC (Zcash), a privacy-focused cryptocurrency, has surged over 36% in one week to $1,470 (approximately 2.03 million KRW) as community voting finalized key details of its upcoming network upgrade 'NU7' and global digital asset investment firm Paradigm publicly disclosed its investment.

According to CoinMarketCap data as of September 18 at 10:46 a.m., ZEC rose 36.32% from the previous week, with a circulating supply of 16.87 million ZEC. A key factor behind the price movement was community voting on NU7 upgrade details. The Zcash Foundation reported that a voting period ran from August 27 to September 14 regarding major aspects of the next network upgrade.

99.9% of voters supported reducing block generation time from 75 seconds to 25 seconds, which would shorten transaction confirmation wait times for users. The proposal also included lowering block rewards while maintaining overall ZEC issuance speed at current levels. Additionally, 98.9% of participants approved maintaining the existing halving structure, supporting faster transaction processing without increasing new ZEC supply.

While actual NU7 implementation still requires development, testing, and activation procedures, Paradigm's disclosure on September 16 (local time) via X also boosted buying sentiment. Matt Huang, Paradigm co-founder, stated that Paradigm has invested in both ZEC and the Zcash Open Development Lab (ZODL), describing ZEC as a complementary asset to BTC for privacy features. However, Paradigm did not disclose specific investment amounts or purchase timing.