One month, doubled—yet the founder admits, “I also can’t figure out why it’s going up”
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In the past 30 days, Zcash (ZEC) has risen 102%, with the current price around $1,529 and a market cap of about $25.9 billion. But co-founder Eli Ben-Sasson reiterated on X that his year-end target of $5,000 remains unchanged, while admitting he doesn’t have a clear explanation either.
Over the past month, ZEC surged from under $800 to above $1,600. Its 24-hour high even touched $1,621. The acceleration phase was basically concentrated in the last two weeks. This isn’t the first time he’s called it: he previously said ZEC would break $1,200 before September 25—yet that target was left far behind. This time he pushed the timeline to year-end, aiming for $5,000, which is about 3.3 times the current level.
What’s really pushing the price might not be his words. The spot ETF (ticker ZCSH) formed from the Grayscale Zcash trust has been trading for about a month, and its assets under management have already surpassed $1 billion. We wrote about its shares on September 20—when its AUM was still $890 million. In just a bit more than a week, it crossed $1 billion. Institutions are buying ZEC directly through traditional products, a level of treatment privacy coins have rarely received in the past.
My take: This rally isn’t driven by a single piece of good news. It’s capital repricing the “privacy” old narrative. Zcash uses zero-knowledge proofs for fully encrypted transfers. Its total supply is fixed at 21 million ZEC, the same halving structure as Bitcoin, and it’s also been labeled “post-quantum resistant.” Against the backdrop of U.S. regulators increasingly tightening their focus on on-chain transparency over the past two years, a “selectable anonymity layer” suddenly becomes a scarce asset.
But two things need to be made clear. First, $5,000 implies another 3.3x rise from the current price. The founder’s prediction is his opinion—not a promise. He even acknowledged that there’s no clear reason for this move, which suggests emotion is playing a big part in the short term. Second, privacy coins have always been a focus of regulation. Any shift in policy could cause this move to give back quickly. Things that pump fast also drop without warning—over the past 24 hours, it has already pulled back by about 3.6%.
What do you think: is this a value reappraisal of the privacy track, or another wave of sentiment-driven bubbles? Let’s discuss in the comments.
Click the avatar to watch the live stream
Every day, I’ll help you track the biggest crypto market hotspots— not just what’s happening in the news, but also the logic and opportunities behind it 👀🚀
💰 加入聊天室
In the past 30 days, Zcash (ZEC) has risen 102%, with the current price around $1,529 and a market cap of about $25.9 billion. But co-founder Eli Ben-Sasson reiterated on X that his year-end target of $5,000 remains unchanged, while admitting he doesn’t have a clear explanation either.
Over the past month, ZEC surged from under $800 to above $1,600. Its 24-hour high even touched $1,621. The acceleration phase was basically concentrated in the last two weeks. This isn’t the first time he’s called it: he previously said ZEC would break $1,200 before September 25—yet that target was left far behind. This time he pushed the timeline to year-end, aiming for $5,000, which is about 3.3 times the current level.
What’s really pushing the price might not be his words. The spot ETF (ticker ZCSH) formed from the Grayscale Zcash trust has been trading for about a month, and its assets under management have already surpassed $1 billion. We wrote about its shares on September 20—when its AUM was still $890 million. In just a bit more than a week, it crossed $1 billion. Institutions are buying ZEC directly through traditional products, a level of treatment privacy coins have rarely received in the past.
My take: This rally isn’t driven by a single piece of good news. It’s capital repricing the “privacy” old narrative. Zcash uses zero-knowledge proofs for fully encrypted transfers. Its total supply is fixed at 21 million ZEC, the same halving structure as Bitcoin, and it’s also been labeled “post-quantum resistant.” Against the backdrop of U.S. regulators increasingly tightening their focus on on-chain transparency over the past two years, a “selectable anonymity layer” suddenly becomes a scarce asset.
But two things need to be made clear. First, $5,000 implies another 3.3x rise from the current price. The founder’s prediction is his opinion—not a promise. He even acknowledged that there’s no clear reason for this move, which suggests emotion is playing a big part in the short term. Second, privacy coins have always been a focus of regulation. Any shift in policy could cause this move to give back quickly. Things that pump fast also drop without warning—over the past 24 hours, it has already pulled back by about 3.6%.
What do you think: is this a value reappraisal of the privacy track, or another wave of sentiment-driven bubbles? Let’s discuss in the comments.
Click the avatar to watch the live stream
Every day, I’ll help you track the biggest crypto market hotspots— not just what’s happening in the news, but also the logic and opportunities behind it 👀🚀
