Privacy-focused cryptocurrency Zcash (ZEC) has re-entered the top 20 cryptocurrencies with a strong rise today. ZEC’s market capitalization reached $10.9 billion, surpassing Hyperliquid’s $10.8 billion.
The price of ZEC briefly hit $750 earlier today and is currently trading at $721.91, representing a 38.93% increase over the past 24 hours. This marks ZEC’s highest price since early 2018. However, it remains well below its all-time high of over $3,000, reached in October 2016 when supply was extremely limited, according to CoinGecko data.
Arthur Hayes, a prominent figure in the crypto market, shared his position following the sharp rise in Zcash:
“Due to its rapid price increase, ZEC is now the second-largest liquid asset in my Maelstrom Fund portfolio, after BTC. ZEC’s private transactions will power the next wave of true DEXs. ZEC is heading to $10,000.”
Analysts and community members point to several factors behind ZEC’s recent surge:
– Re-emergence of financial surveillance and privacy debates in Europe
– Growing interest in Zcash’s mobile wallet integrations
– ZEC exceeding key levels in technical models and on-chain metrics
– Increasing trading volumes and signs of revival spreading across the market
Zcash features a blockchain structure that allows users to optionally hide their transactions. By moving tokens to special addresses called “privacy pools,” users can conceal their transaction history, enhancing privacy and security.
*This is not investment advice.*
https://bitcoinethereumnews.com/crypto/whats-happening-with-this-altcoin-huge-surge-arthur-hayes-makes-10000-claim/
