ZEC rose more than 29% in 24 hours, the price of the currency approached an all-time high, and the market capitalization rose to US$12.46 billion

Comparative news, according to HTX market data, ZEC rose more than 29% in 24 hours and is now quoted at $735.47, approaching the previous all-time high of $750, and its market capitalization has risen to $12.46 billion.

Earlier, on June 5, Zooko Wilcox, founder of Zcash, published a long article with Jason McGee and Taylor Hornby, detailing that the Orchard pool, the project's newest privacy layer, had key integrity flaws and could be used to create an unlimited amount of counterfeit ZEC in a hidden environment. Previously, the Zcash ecosystem had an urgent network upgrade and repair, but after the detailed impact was disclosed, the ZEC price fluctuated drastically, and at one point hit the downward pin of $250.12.

On August 20, Grayscale submitted the fourth revised document to convert its Zcash Trust into an ETF, to change the name of the fund and list it on the NYSE under the ZCSH code. According to the documents, DCG International Investments Ltd., a subsidiary of its parent company Digital Currency Group (DCG), is discussing injecting approximately 200,000 ZEC into the fund.