Zcash price recovers above $800 amid NU7 upgrade vote

Zcash (ZEC) has reclaimed a price level above $800 following a period of volatility. After briefly dropping to $773, the cryptocurrency recovered to trade near $826, continuing a weekly rally despite remaining below its recent peak of approximately $890.

The price movement coincides with an advisory poll for Zcash coinholders regarding the upcoming NU7 network upgrade. The poll includes five key proposals that could fundamentally alter the network, such as replacing the current four-year halving cycle with a smoother reduction in new issuance to provide more certainty for miners and users.

Other considerations for the NU7 upgrade include whether transaction fees should be returned to future block rewards, the retirement of the Sprout transaction system, and a proposal to reduce block time from 75 seconds to 25 seconds. Cypherpunk Technologies has expressed strong support for the faster block times, citing test results that suggest the network can accommodate the change.