Zcash (ZEC) Soars Past 2021 Highs as Arthur Hayes | Crypto News
Zcash (ZEC) has exploded in worth past $350, clearing its 2021 high and igniting a wave of renewed optimism across the digital belongings ecosystem. A surge in demand tied to privateness, cross-chain integration and daring market calls are pushing ZEC into the highlight.
Related Reading: $10K Is Coming: Arthur Hayes’ Zcash ‘Vibe Check’ Sparks 30% Moonshot
Rally Driven by Privacy Narrative and Major Price Call
Zcash’s latest rally is nothing short of dramatic. In the past month, ZEC’s price surged roughly 380 % and smashed through its May 2021 closing degree of around US$319.
This breakout has drawn recent consideration to the coin’s core worth proposition, transaction anonymity, at a time when regulatory scrutiny and surveillance issues are rising globally.
Adding fuel to the fire, Arthur Hayes, co-founder and former CEO of BitMEX, publicly predicted that ZEC might in the end attain US$10,000. Markets responded swiftly; within 24 hours of Hayes’s “vibe check” post on X, ZEC jumped over 30 %. The privacy-coin resurgence seems nicely underway.
Meanwhile, technical analysts argue the rise is more than hype. ZEC’s chart now showcases breakout patterns, rising volumes, and a shift in smart-money positioning. However, warning stays. Many analysts word that although the price is reflecting a strong narrative, precise usage of shielded transactions stays restricted.
Zcash (ZEC) Ecosystem Integrations Add Strength
Behind the price motion lies concrete ecosystem development. Zcash integration into other chains, such as its wrapped model on Solana, is reviving curiosity, while new options search to restore ZEC’s full privateness options across cross-chain networks.
For instance, the project Encifher is enabling encrypted variations of ZEC (eZEC) utilizing absolutely homomorphic encryption on Solana so that customers can transact privately while still participating with DeFi.
Other catalysts embrace the anticipated halving event, which is due to cut miner rewards in mid-November, tightening provide. Added to that, institutional frameworks such as the debut of a trust vehicle for ZEC are reportedly increasing publicity. All told, these structural shifts assist the narrative.
Related Reading: Forget Inflation: Bitcoin Rallies When The Dollar Falls, Study Finds
Nevertheless, even with infrastructure rising, the risk stays that price is racing forward of real adoption. Analysts warn of a “sell the news” state of affairs if new integrations or usage metrics fail to materialize.
Cover image from ChatGPT, ZECUSD chart from Tradingview
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