Zcash Price Explodes 26% as Anthropic's Mythos Uncovers No Serious Bugs

ZEC delivered a strong comeback after Anthropic performed an audit of the Zcash protocol using the cutting-edge Mythos model. Zcash surged by more than 26%todayas Zcash founder Zooko Wilcox confirmed the completion of the security audit, which found no critical issues.

Notably, this Zcash price rally follows the token’s recent crash caused by the disclosure of a serious vulnerability. Now, investors seem to be regaining confidence thanks to the Mythos-powered audit.

Anthropic audit pushes the Zcash price up

Zooko Wilcox, the founder of Zcash, shared a post on X, revealing that the AI audit by Anthoropic has found no serious bugs in the protocol. 

Following the update, the Zcash price saw a significant recovery from its recent lows. The price surged to a weekly high of $535 earlier today. Currently, the ZEC crypto is trading at $533, marking a significant hike of 27% in a day and 26% in a week.

What is more noteworthy is the Zcash price’s recent dramatic performance before and after the audit. Earlier in June, the Zcash team was concerned with a major security issue. Soon after identifying the issue, the team carried out an emergency upgrade to fix the vulnerability in the Orchard Shielded pool.

It is worth noting that the bug has been present in the code unnoticed since 2022. As CoinCodex reported, the Zcash team unveiled plans for its Ironwood upgrade to ensure the network’s security. The team also executed a detailed security review and ensured that no more hidden vulnerabilities were present in the network.

While the news of the critical security issue caused a sudden fall of about 40% in the Zcash price, the latest development drove the value up. This has indeed strengthened investor confidence, sparking speculations about a possible Zcash price rally. 

This investor enthusiasm is clearly visible in the trading activity over the past 24 hours. The trading volume during this period has seen a remarkable surge of 120%, reaching $1.03 billion. This indicates that investors are increasingly accumulating the token, convinced by the positive sentiment.

ZEC price breaks past key resistances

Analyst Crypto Tony identified $550 as a key resistance level for the Zcash price. He stated that selling pressure may increase at this level, slowing down the uptrend.

However, he added that if the Zcash price manages to break past the level, it could signal a sustained rally. As the token has already moved above this level and reached a high of $533, traders and investors remain optimistic about the ZEC crypto’s potential uptrend.

In detail, ZEC has broken past its previous consolidation range between $400 and $430. This itself shows a strong bullish momentum. As the token managed to soar and hold above multiple resistance levels like $515 and $522, the next target is a major resistance level at $585. If buyers push the token beyond this level, it could result in another remarkable rally in the Zcash price.