What’s Happening With This Altcoin: Huge Surge, Arthur Hayes Makes $10,000 Claim

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. This represents a 38.93% increase over the past 24 hours. This puts $ZEC at its highest price since early 2018. However, this remains well below its all-time high of over $3,000, reached in October 2016 when supply was extremely limited, according to CoinGecko data.

Chart showing the rise in $ZEC price.

Arthur Hayes, one of the leading names in the crypto market, shared his position in his portfolio after 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 that have triggered $ZEC's recent sharp rise:

• Re-emergence of financial surveillance and privacy debates in Europe
• Growing interest in Zcash's mobile wallet integrations
• $ZEC exceeds key levels in technical models and on-chain metrics
• Increasing trading volumes and signs of revival spreading to the market

Zcash has a blockchain structure that allows users to optionally hide their transactions. Users can hide their transaction history by moving their tokens to special addresses called “privacy pools.”

*This is not investment advice.