In this market cycle, $ZEC can surge 70% from 500 to 850, and it’s still a strong breakout on increased volume. Besides simply following the broader market trend, there are also its own independent positive catalysts:
1. Last week, Grayscale filed a fourth amendment request with the SEC to convert the Zcash trust into a spot ETF and list it on the NYSE. If this gets approved, it would be the first privacy coin spot ETF in the United States.
2. Even more aggressively, Grayscale’s parent company, DCG, is in talks to inject 200,000 ZEC into this trust—worth about $110 million based on the then-current price. DCG also has companies mining ZEC and operating mining pools; the whole industry chain is tied to Zcash.
3. The key point is that ZEC itself has a fixed total supply of 21 million coins and also has a mining halving mechanism, which is similar to $BTC . The difference is that privacy functionality has been added—transaction amounts and addresses can be hidden.
4. The SEC also previously investigated the Zcash Foundation, but that ended earlier this year and no enforcement action was taken. This signal is crucial, indicating that regulators’ stance toward privacy coins may be loosening.
Of course, the upside can be even bigger—and so can the downside, especially now that it’s already severely overbought. DYOR
1. Last week, Grayscale filed a fourth amendment request with the SEC to convert the Zcash trust into a spot ETF and list it on the NYSE. If this gets approved, it would be the first privacy coin spot ETF in the United States.
2. Even more aggressively, Grayscale’s parent company, DCG, is in talks to inject 200,000 ZEC into this trust—worth about $110 million based on the then-current price. DCG also has companies mining ZEC and operating mining pools; the whole industry chain is tied to Zcash.
3. The key point is that ZEC itself has a fixed total supply of 21 million coins and also has a mining halving mechanism, which is similar to $BTC . The difference is that privacy functionality has been added—transaction amounts and addresses can be hidden.
4. The SEC also previously investigated the Zcash Foundation, but that ended earlier this year and no enforcement action was taken. This signal is crucial, indicating that regulators’ stance toward privacy coins may be loosening.
Of course, the upside can be even bigger—and so can the downside, especially now that it’s already severely overbought. DYOR