Zcash surges 700%, becomes Maelstrom’s 2nd-largest holding
Zcash (ZEC) has rallied over 700% since early October, briefly overtaking Hyperliquid to re-enter the top 20 by market cap with around $9.4 billion. The price surge—peaking near $680—comes amid wider market declines in Bitcoin and Ethereum. Investors cite growing demand for zk-SNARK privacy tech, expanding shielded pool use, the launch of the Zashi wallet and an upcoming halving as key drivers. Funding rates and trading volumes point to strong bullish momentum. Endorsement from Arthur Hayes, who now holds Zcash as the second-largest asset in his Maelstrom portfolio and has set a $1,000 price target, adds social proof. Traders should watch for heightened volatility and profit-taking risk as renewed institutional and retail interest in privacy coins intensifies.
Bullish
The sharp 700% rally in Zcash since October, driven by privacy-tech demand, wallet innovations and an upcoming halving, indicates robust bullish momentum. Endorsement by Arthur Hayes as his portfolio’s second-largest holding adds institutional credibility. On-chain metrics—funding rates and trading volumes—point to sustained buying pressure. In the short term, traders can expect heightened volatility and profit-taking risk; over the longer term, the halving event and expanding shielded pool usage could underpin further upside, reinforcing a bullish outlook for ZEC.