Zcash (ZEC) jumped 12% in the last 24 hours, hitting $692 earlier today, after the U.S. Securities and Exchange Commission closed its investigation into the Zcash Foundation. The rally adds 26% to the coin's market cap so far this week, making it the second-best performer among the top 20 cryptocurrencies — only Hyperliquid did better.
Why the SEC moved now
The SEC's decision removes a cloud that's hung over Zcash for months. The regulator opened the probe into the Zcash Foundation last year, but never disclosed the scope. With the case closed, the foundation can focus on its core mission without legal distraction. The timing isn't bad: the foundation's Q1 update showed it holds about $36.7 million in liquid assets, mostly in ZEC itself. That's a serious bet on its own token, and one that just paid off.
What the foundation's books show
The $36.7 million figure comes from the foundation's first-quarter financial report. It's a big chunk of change for a non-profit, but it also means the foundation's treasury is heavily exposed to ZEC volatility. That's a risk — but for now, the rally is boosting its war chest. Core technical development on the Zcash protocol continues, even as organizational changes hit the Electric Coin Company, the other major entity behind the privacy coin.
At press time, ZEC traded at $655, off the day's high of $692. The RSI sits at 70, deep in overbought territory, and the MACD lines are also overbought. That suggests the rally might be stretched. If momentum carries, the next target is $745 — a level ZEC hasn't seen since November — and then possibly $800. But if a correction hits, the first line of defense is Wednesday's low of $580. Fail that, and $485 becomes the floor. This isn't a straight-line bet: the technicals are hot, and hot rallies can cool fast.
