Zcash Surges Over 30% Then 15% on Hayes’ $10K Forecast
Zcash (ZEC) has experienced significant volatility, surging more than 30% in 24 hours from $272 to $363 and later jumping another 15% to $362. The rallies were sparked by BitMEX co-founder Arthur Hayes’ renewed $10,000 price forecast on X, fueling FOMO among traders. Trading volume climbed 45% to approximately $799 million, lifting ZEC’s market capitalization above $5 billion and highlighting renewed demand for privacy coins.
On-chain data shows the network’s privacy features are gaining traction: October shielded supply grew 13% to over 4.9 million coins and daily private transactions increased 36%, underlining real-world use of Zcash’s zero-knowledge proofs. Over the past month, ZEC has rebounded between 430% and 550% from mid-$60s lows, validating the bullish price forecast for privacy coins.
However, some market participants caution that the rally may be driven primarily by influencer hype rather than fundamentals. Critics point to Hayes’ history of promoting tokens before sell-offs and question whether Zcash’s privacy use-case alone can sustain the current momentum.
Bullish
The news is bullish for Zcash (ZEC) as it highlights strong short-term momentum and growing network usage. Arthur Hayes’ high-profile $10,000 price forecast on X has generated FOMO, driving trading volume up 45% and propelling two rapid price advances of over 30% and 15%. These spikes have expanded market capitalization above $5 billion and confirmed traders’ renewed interest in privacy coins. Moreover, on-chain metrics—such as a 13% rise in shielded supply and a 36% increase in private transactions—underscore genuine network adoption of Zcash’s privacy features. In the short term, this combination of hype-driven volume and improving fundamentals is likely to sustain bullish sentiment, while longer-term prospects will depend on whether privacy use-cases can withstand potential regulatory scrutiny and whether the current rally is supported by real demand rather than speculative hype.