Zcash surged 14% after the Securities and Exchange Commission (SEC) dropped its investigation into the privacy-focused cryptocurrency. The price of Zcash rose to $445, marking a 6% increase following the announcement and extending a rally that began the previous day. As of 5:00 pm in New York, Zcash had gained nearly 14% in 24 hours. The Zcash Foundation, which promotes the cryptocurrency, stated that the outcome reflects its commitment to transparency and regulatory compliance. This development comes after a challenging period for Zcash, which saw a decline following the mass resignation of developers at Electric Coin Company, the creators of Zcash. Despite recent setbacks, Zcash has experienced significant growth, with a 758% increase over the past year, although it remains below its 2016 peak of nearly $3,192.