Grayscale: Zcash (ZEC) fitbi dey undervalued as demand for privacy dey rise
Grayscale Research dey talk say Zcash (ZEC) fit dey undervalued as demand for private digital money dey rise for world wey dey more surveilled. Dem note say ZEC be only about 0.3% of the crypto “currencies” segment, but market fit dey misprice the value of Zcash privacy.
On-chain adoption na one main reason for the case. Grayscale talk say Zcash dey use shielded transactions to hide sender, receiver, and amounts, backed by zero-knowledge proofs for validation. Dem also point to "viewing keys" wey allow selective access, making Zcash look more compliance-friendly than some other privacy coins.
Grayscale point metrics wey show shielded activity around 86.5% of Zcash transactions (as of March 2026) and shielded supply near 31.1% of circulating ZEC. Dem attribute improved shielded usability to Sapling (2018) and NU5 (2022) upgrades, wey remove the trusted-setup requirement for new shielded pools.
Valuation upside dem present na "mispricing" scenario no be guarantee. With ZEC market value roughly ~$4B versus ~$1.6T crypto market, ZEC dey near 0.3% of the sector; Grayscale estimate say if e capture 5% of this segment e fit mean much higher valuation (about 18x under their assumptions).
Key risks include regulatory uncertainty around shielded transactions, execution risk from upcoming upgrades (including Tachyon and Crosslink), and long-term quantum computing concerns. For traders, the privacy story good for ZEC, but short-term price fit still react sharply to regulation headlines and upgrade delivery risk.
Bullish
Di latest coverage dey confirm one bullish thesis for ZEC: shielded transactions dey dominate use (86.5% dem talk) and shielded supply dey meaningful (31.1%), plus Sapling and NU5 don remove trusted-setup wahala. Together with Grayscale’s “privacy mispricing” valuation framework, this fit attract capital wey wan get exposure to privacy tech. But di articles still stress big short-term overhangs — regulatory headlines linked to shielded transactions and execution risk from upcoming upgrades (Tachyon, Crosslink). So di bias na bullish for ZEC long-term narrative, but short-term volatility risk still dey.