Zcash’s 19x Rally May Have More Room as Grayscale Eyes Bitcoin Share

Key Takeaways

• ZEC has risen roughly 19-fold but remains below 1% of bitcoin’s market cap.
• Grayscale says privacy could help Zcash capture additional market share.
• Grayscale’s scenarios imply ZEC at $8,109 if it reaches 10% of bitcoin’s market cap.

Grayscale Sees More Room After Zcash’s 19x Rally

Zcash may have further upside despite rising approximately 19-fold over the past year, according to Grayscale Head of Research Zach Pandl. The asset manager said Aug. 25 that Zcash could challenge Bitcoin’s network effects through capabilities that were unavailable or less relevant when Bitcoin established its lead.

Grayscale’s “Currencies” sector groups crypto assets primarily designed to serve as digital money or stores of value. Bitcoin accounts for 93% of the category by market capitalization. The asset manager identified financial privacy, development addressing cybersecurity threats, and cross-chain reach through intents technology as Zcash’s potential advantages.

“Zcash offers financial privacy and other attributes that users may find essential in an age of AI,” Pandl wrote, adding:

“We think it is still undervalued and can continue to capture market share.”

ZEC’s price as of Aug. 29 via Bitcoin.com Markets