Zcash trades near $516 as of writing, rising more than 25% in the past 24 hours and extending a powerful multi-month rally. The privacy-focused cryptocurrency has gained over 750% in the last three months and nearly 800% year-over-year.
This surge places ZEC among the top-performing digital assets of 2025. Traders have returned to a token that spent years outside the spotlight. What changed so quickly?
Arthur Hayes Reignites Market Attention
Renewed interest followed a recent post from Arthur Hayes, the BitMEX co-founder and former CEO, who reiterated a $10,000 price target for ZEC. Hayes shared the view during a Sunday “vibe check” on X, triggering immediate market reaction. His comments carried weight due to a history of market-moving calls, including an August post that sparked a price jump in Hyperliquid’s HYPE token. Analysts noted that Hayes’ endorsement arrived after a sharp market selloff failed to derail ZEC’s recovery.
Market commentator AB Kuai Dong described the move as a sudden shift in sentiment. He pointed to a long period of quiet trading before renewed attention from a well-known industry figure sparked a month-long FOMO-driven rally. Trading volumes rose as speculative interest followed.
Structural Factors Drive the Rally
Some analysts argue the surge extends beyond a single influencer. Zcash has finished the year not only as the top-performing privacy coin but also as one of the strongest gainers among the top 100 cryptocurrencies. Institutional accumulation has added fuel. Winklevoss-backed Cypherpunk Technologies recently purchased 56,418 ZEC for roughly $29 million. That move lifted its total holdings to 290,062 coins, representing about 1.8% of Zcash’s circulating supply.
Zcash began drawing attention again in October, nearly nine years after its 2016 launch. After years of regulatory pressure and declining developer activity, the asset re-entered trader watchlists. Analysts have compared the renewed interest to early Bitcoin and Ethereum cycles, citing scarcity and privacy-focused design as core features that attract capital during periods of tighter financial oversight.
Technical Signals and Price Projections
Technical analysts continue to track ZEC closely. GainMuse noted that ZEC reclaimed key structure and now trades within a rising channel. The firm highlighted higher lows and sustained momentum above trend support as signals that favor continuation toward the upper boundary. It warned that a breakdown below channel support could invalidate the bullish setup.
Source: X
Thor Torrens pointed to a confirmed cup-and-handle structure on ZEC charts. He projected a potential cycle target near $4,900 based on that formation. These technical views align with growing speculative interest but still depend on price holding critical levels.
CoinCodex offered a more conservative outlook. It forecasted a 42% rise, targeting $747.84 by January 30, 2026. Its data showed bullish technical sentiment despite a Fear and Greed Index reading of 21, labeled extreme fear. CoinCodex also projected a move toward $834 by March 31, 2026.
Source: CoinCodex
Can the $10,000 Narrative Persist?
The idea of Zcash reaching $10,000 has returned to market discussions. Supporters frame the thesis around privacy demand, limited supply, and renewed institutional interest. Critics note ZEC’s prior all-time high near $5,941 and its history of sharp cycles.
For now, price action, capital inflows, and technical structure keep Zcash firmly in focus. Whether the rally sustains or cools will shape the next chapter of this revived privacy coin.
