Zcash Price Skyrockets as Arthur Hayes Predicts $10,000 Target
The privacy coin Zcash is experiencing a real “second spring.” Over the past 24 hours, the price of ZEC has surged by 20% to reach $350 — its highest level since 2017. Meanwhile, its market capitalization has surpassed $5 billion for the first time.
The main reason behind the current rally is hype. Zcash has become the hot topic across social media, fueled largely by comments from prominent figures, including Arthur Hayes, co-founder of the BitMEX exchange.
In his “Vibe Check” post on platform X, Hayes mentioned $10,000 as a potential target price for Zcash. Shortly after, the ZEC price spiked sharply from $272 to $355 within a day.
Posts like these, which gain hundreds of thousands of views, are not reliable forecasts but tend to trigger FOMO among crypto investors. Hayes further amplified the bullish sentiment with his optimistic comments on the Hyperliquid platform.
However, analysts caution against overly high expectations. Zcash’s all-time high was recorded in 2016 at over $3,000, followed by a long and steep decline. For now, it remains uncertain whether the current surge signals a long-term trend reversal.
cryptocurrency journalist and market analyst who has accumulated great experience. He shares practicable insight with traders, investors, and enthusiasts of the crypto world. John loves to explore the dynamic Web3 space, which involves blockchain technology or different coins besides decentralized applications (dApps) leading decentralized finance (DeFi), smart contracts or interoperability among blockchains, non-fungible tokens (NFTs), real-world assets (RWAs), and artificial intelligence combining blockchain. John has worked for leading cryptocurrency resources, among them FORECK.INFO, CoinGape, CryptoNews, and Business2Community
