Privacy-focused cryptocurrency Zcash (ZEC) has experienced a dramatic surge today, reclaiming its position among the top 20 cryptocurrencies. Its market capitalization reached $10.9 billion, surpassing Hyperliquid’s $10.8 billion. 📈
The price of ZEC surged to $750 earlier today and is currently trading at $721.91, representing a significant 38.93% increase within the past 24 hours. This marks its highest price since early 2018.
Arthur Hayes, renowned crypto market figure and investor, has bolstered his positive outlook on Zcash: “Due to its rapid price increase, ZEC is now the second-largest liquid asset in my Maelstrom Fund portfolio, following BTC. ZEC’s private transactions will drive the next wave of decentralized exchanges (DEXs). I anticipate ZEC hitting $10,000.”
Experts and community members point to several key factors driving Zcash’s recent surge: rising financial privacy concerns in Europe, increased interest in Zcash’s mobile wallet integrations, a successful performance across technical models and on-chain metrics, and burgeoning trading volumes.
Zcash boasts blockchain technology that empowers users to optionally obscure their transactions by leveraging