Zcash价格逼近1500美元，社交热度创一个月新高

TLDR：Zcash 价格飙升引发 Paradigm 及市场关注

Zcash 价格在 NU7 升级前的开发者基金争议中波动，价格逼近 1,500 美元。自 9 月 15 日至 17 日，ZEC 涨幅约 32%，社交活跃度达到一个月来的高点。

Paradigm 确认持有 ZEC，开发者基金辩论升温

Santiment 数据显示，9 月 17 日 X 平台（原 Twitter）占据了 Zcash 相关提及量的 85%，其活跃度是过去 29 天基准线的 6.8 倍。随着区块奖励、治理结构及长期开发者资金问题的讨论加剧，Paradigm 确认了其 ZEC 持仓情况。

NU7 升级计划定于 11 月 5 日主网上线

NU7 升级方案包括将区块生成时间缩短至 25 秒，并保留现有的 ZEC 减半机制。目前，社区对加速出块和维持减半的支持率极高，这为价格动能提供了基本面支撑。

Zcash 价格飙升引发 Paradigm 与社交市场关注

本周，随着 ZEC 价格向 1,500 美元关口迈进，加密货币渠道内的社交活动显著激增。Santiment 数据显示，9 月 17 日 Zcash 的社交提及量达到一个月新高。其中，X 平台上的提及量比此前 29 天的基准高出 6.8 倍，而其他平台的提及量仅为基准的 1.7 倍。因此，X 平台贡献了追踪到的 Zcash 提及量的 85%，而在正常交易日这一比例约为 59%。

The price increase of ZEC is also accompanied by substantial market trading activity. After experiencing a strong trend in early September, Paradigm co-founder Matt Huang disclosed that the institution holds ZEC, further attracting market attention. He described Zcash as a privacy supplement to Bitcoin and supported long-term developer funding.

However, Sanitation's social data shows that the attention this time is abnormally concentrated. The company pointed out that a large number of duplicate whitelist application posts, using the same text but with different ticket numbers, appear to drive most X platform activity. This pattern suggests that the surge in social data does not come from widespread organic attention on various platforms, but is the result of specific activities. Despite this, market activity still shows buyer support, while social distribution is heavily biased towards Platform X.

Developer fund controversy comes into focus

As token prices rise, the Zcash Dev Fund mechanism has become another major discussion point. The mechanism uses 20% of block rewards to fund projects and ecosystem development. Developer Maxime Desalle believes this structure reduces the rewards available to miners and may encourage reliance on funding funds. Desalle also cited privately funded projects as an example to demonstrate that external capital can support development without negotiated subsidies. The debate sparked a broad response from investors, developers and cryptographers within the Zcash community.

黄立行在核心资金问题上持相反观点。他认为，通过通胀融资的开发者支持可以为公共产品的融资提供持久的机制。Haseeb Qureshi 则更侧重于治理问题，建议由选举产生的代表而非纯粹的代币投票来决定基金的使用。

目前的争论与 Zcash 日益增长的“价值存储”叙事交织在一起。部分社区成员将 ZEC 描述为加密版的比特币，即在稀缺货币资产上叠加隐私功能。这种框架加剧了对发行量、治理结构和长期协议变更的审查。

NU7 升级前的价格走势与监管环境

Zcash 的价格行动正处于 NU7 网络升级的关键节点。Zcash 开发人员目前目标是在 10 月 6 日激活测试网，并于 11 月 5 日激活主网。在开发人员评估测试网性能后，最终的主网决定将于 10 月 20 日做出。

当我说开发者基金不应完全由代币投票决定时，我支持某种形式的部分投票，这意味着类似代议制民主：代币持有者应投票选出代表/委员会成员，并定期举行选举。
—— Haseeb Qureshi ＞|＜ (@hosseeb), 2026年9月18日

The NU7 upgrade will shorten the target block interval from 75 seconds to 25 seconds, while integrating network sustainability mechanisms and retaining the existing halving schedule. The upgrade plan follows community polls that strongly support faster block-out speeds and continued halving. Holder voting showed that 99.9% supported the 25-second block and 98.9% supported retaining the halving mechanism. Developers said the upgrade is not expected to have a material impact on wallets, although nodes, indexers and block browsers may need to be adjusted.

Regulatory conditions also add another background to the rise of ZEC. The EU's anti-money laundering regulations will come into effect on July 10, 2027. The regulation prohibits regulated financial and cryptocurrency service providers from maintaining certain anonymous accounts, including those that increase transaction confusion through anonymis-enhanced coins. In addition, the Cryptographic Asset Markets Regulation (MiCA) also restricts trading platforms from listing assets with built-in anonymity. Service providers must identify holders and transaction history before entering. This framework creates a stricter operating environment for privacy-conscious assets. At the same time, Zcash prices and online activities continue to attract renewed attention from the market.