Key Highlights
- Zcash jumped 42% in seven days from a weekly low near $554 and is up about 350% year to date.
- Grayscale Research says ZEC could reach around $8,100 by 2030 if it captures 10% of Bitcoin’s market value.
- Grayscale launched the ZCSH spot ETF on NYSE Arca, giving U.S. investors easier access to ZEC.
Zcash (ZEC) has become one of the strongest-performing tokens this week, gaining about 42% over seven days.
At the time of writing (on August 26 at 5:55 PM UTC), the privacy-focused cryptocurrency was trading at $778.35, up from a weekly low near $554, according to data from CoinMarketCap. The move pushed its market cap to around $13.1 billion in value. ZEC was also up about 59% over the past month. Despite the increase, Zcash’s market capitalization remains less than 1% of Bitcoin’s.
Grayscale sees more room for Zcash
The gap with Bitcoin is central to a new scenario outlined by Grayscale Research.
Zach Pandl, head of research at Grayscale, said in a report published on Wednesday that Zcash could become a stronger competitor to Bitcoin if demand for financial privacy increases.
Pandl linked that potential demand partly to the growth of artificial intelligence. As AI tools become more capable of collecting, analyzing, and tracking financial information, he argued that demand for systems offering greater financial privacy could increase.
He also pointed to several other parts of the Zcash network, including its privacy technology, work to protect against future quantum-computing risks, and better connections with other blockchain networks.
“Zcash does not require widespread merchant adoption – you (or your AI agent) can use it as a private asset hub with universal connectivity through intents,” Pandl said.
Grayscale maps out an $8,100 scenario
Grayscale also looked at what could happen if Zcash takes a bigger share of Bitcoin’s market value. If ZEC reached about 2% of Bitcoin’s market capitalization, the research suggests its price could move above $1,622. A much larger 10% share could put ZEC near $8,100 by 2030.
The $8,100 figure is a scenario based on market-share assumptions rather than a forecast or guarantee. Reaching that level would require Zcash to gain substantially more market value relative to Bitcoin than it has today.
Zcash gains ETF access in U.S.
Interest in Zcash has also coincided with the expansion of exchange-traded access in the U.S.
On August 24, Grayscale launched the Zcash ETF, known as ZCSH, on NYSE Arca after converting its existing Zcash Trust.
The product gives U.S. investors access to spot exposure to ZEC without directly holding the cryptocurrency. The ETF reportedly had about $260 million in assets around its launch.
The launch came after months of attention around Grayscale’s efforts to bring Zcash into the U.S. exchange-traded market. The Zcash network also received an upgrade in July known as Ironwood, which addressed a vulnerability in its Orchard shielded pool.
Zcash rally loses momentum amid PCE report
The rally seems to have calmed. ZEC was down about 2.38% on Wednesday as of 5:55 PM UTC) after its trading activity fell by 10% to $1.24 billion in volume. The move came as broader crypto markets reacted to the PCE inflation report, along with crypto options expiry.
Zcash has gained sharply this year, but its market value remains small compared with Bitcoin. Grayscale’s analysis puts the focus on whether demand for financial privacy could allow ZEC to capture a larger share of the broader crypto market.
The $8,100 level remains a scenario dependent on that market-share expansion rather than a confirmed price target.
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