- Hayes believes all obstacles are cleared for the ZEC price to reach $10k after its recent bullish breakout.
- The Zcash network has attracted significant users for its unique diversified features compared to Monero (XMR).
- The fixed and controlled supply of ZEC has made it more attractive to institutional investors led by Grayscale.
Arthur Hayes has predicted that Zcash (ZEC) will rally and reach $10,000 per coin. The early crypto investor believes that the ZEC price, which heavily borrows from Bitcoin (BTC), will record a 27x rally from its current value, $358 at press time, presumably during the anticipated altseason 2025.
“Nothing stops this train. ZEC to $10k,” Hayes posted on X .
Source: ZEC Near $400 on Hayes $10K Call, Hyperliquid ZEC Futures Listing, Grayscale Zcash Trust Launch
Why Hayes’ ZEC Price Target of $10k May Happen Soon
Rising Demand of ZEC
ZEC price is well positioned to reach a target of $10k, a price it once hit during its early rollout phase, fueled by its renewed demand. The mid-cap altcoin, with a fully diluted valuation of about $7.57 billion, has surged from trading below $40 in August to reach a recent local high of about $370.
According to market data analysis from CoinGlass, ZEC’s Futures Open Interest (OI) recently surged to an all-time high of about $529 million. Worth noting that ZEC’s OI surged by 15% during the past 24 hours.
Source: CoinGlass
Meanwhile, Grayscale Investment has been leading in institutional adoption of ZEC through its Grayscale Zcash Trust (ZCSH), which currently has around $137 million in assets under management (AUM).
Top-tier Privacy-oriented Crypto with Diversified Features Amid Politically Inspired Mainstream Adoption
The ZEC price may fulfill Hayes’ prediction due to its palpable developments to enhance privacy amid shifting global political stance on user privacy rights. The Zcash network has recorded higher adoption hype, even surpassing Monero (XMR), due to its fundamental features.
Notably, ZEC has gained mainstream acceptance due to its selective privacy through zero-knowledge proofs dubbed zk-SNARKs. At the time of this press, the shielded ZEC coins recently hit a new record of 4.94 million coins, which represents 30% of its total supply.
Monero network on the other hand uses an always-private mode in its transactions, thus not more appealing to global markets. The debate of digital privacy has hit many jurisdictions, mostly Europe and the U.K., thus also fueling privacy-oriented crypto coins.
Technical Tailwinds Ahead of Anticipated Altseason
From a technical analysis point of view, the ZEC/USD pair has broken out of a multi-year descending triangular pattern in the weekly timeframe. At the time of this writing, the ZEC price has been retesting its peak for the 2021 bull market.
Source: TradingView
With the Relative Strength Index (RSI) at its highest level since ZEC’s inception, it is safe to assume more bullish momentum in the near future. Furthermore, an altseason is expected to kickstart before the end of this year, especially after the Federal Reserve initiated another rate cut and confirmed the end to its longstanding Quantitative Tightening (QT).
Source: Zcash Price Prediction: Zcash Rally Builds as Open Interest Hits Yearly High
