Zcash price has gained 370% in 3 months and reached a high above $1200.

Just three months ago, the anonymous cryptocurrency Zcash (ZEC) was feeling a bit unsettled as Vulnerable In the privacy pool, Orchard questioned the legitimacy of the issue.

The situation has now changed: the protocol has corrected the error, and the cryptocurrency has become the leader in growth among major altcoins.

Nevertheless, the incident had a negative impact on the ZEC price. Before the vulnerability news, the token was trading at $650, but then plummeted 60% to $260 in just one day. However, the panic in the community was quickly quelled by the developers' prompt action.

As a result, the Zcash price stabilized around $500, where it remained for the next couple of months. The most significant growth began with Bitcoin's rise on August 19, resulting in happened The altcoin's price rose to $900. Even as Bitcoin's momentum slowed, ZEC continued to rise and surpassed $1200 for the first time.

Source: CoinGecko

Thus, since its low in early June, the token has soared 370%, and its market capitalization has exceeded $20 billion. It was this latter figure that helped it displace HYPE and DOGE from the top 10 cryptocurrencies and secure 9th place in the overall ranking.

Zcash rally supported launch Grayscale launched its Zcash ETF in mid-August (August 25), which has already attracted $34,4 million in net inflows.

The main question isn't whether Zcash can continue to grow. The question is whether the ETF era is creating a new avenue for capital to flow into previously ignored crypto assets. ZEC could be an early test of this thesis, noted an analyst at "Wolf on Every Street."

His colleague, Crypto Patel, commented on ZEC's price potential, pointing to the formation of a cup-and-handle pattern on the weekly chart. He believes the asset has broken through the pattern's neckline/resistance line, which could lead to another major surge to $2200.