SEC Clears Zcash – ZEC Price Rockets To Six-Month High Amid Crypto Rally

ZEC gained more than 12% on Wednesday and led gains among crypto majors.

• Zcash surged to its highest level since November after the SEC formally closed its investigation into the Zcash Foundation.
• According to the non profit, the SEC ended the probe without recommending enforcement action, fines or operational changes to the project.
• The Zcash Foundation reported holding $36.7 million in liquid assets at the end of the first quarter while continuing development on Network Upgrade 7.

Zcash (ZEC) led gains among crypto majors and hit a six-month high on Wednesday afternoon after the non-profit behind the token said that the U.S. Security and Exchange Commission’s (SEC) probe into the foundation had formally closed its investigation into the project.

ZEC’s price rose more than 12% to hit $646.80, its highest level since November, amid the broader rally in the cryptocurrency market. Retail sentiment around the privacy-focused token improved to ‘bullish’ from ‘neutral’ territory over the past day and chatter rose to ‘high’ from ‘normal’ levels. 

The token is also the top performer in weekly gains among crypto majors, up over 20% in the last seven days, according to CoinGecko data — second only to Hyperliquid (HYPE), which has gained over 30% in the same period.