ZEC rose sharply from below $600 to about $880-$888, with reported weekly gains ranging from 56% to more than 70%, reaching its highest level in roughly eight years before retreating 7.6% to $787 or toward the mid-$800 range. The rally coincided with the opening of the nonbinding Zcash NU7 holder-sentiment poll and the conversion of Grayscale's Zcash Trust into a spot ETF trading on NYSE Arca under the ticker ZCSH. The trust holds about 393,000 ZEC worth more than $260 million. NU7 addresses issuance smoothing, reducing target block spacing from 75 seconds to 25 seconds and related network changes, but poll results do not automatically alter Zcash consensus rules. Perpetual-futures open interest nearly doubled to $1.8 billion, amplifying both the rally and reversal risk, while Bitcoin fell 2% to $78,900 and most major cryptocurrencies also closed lower.