Arthur Hayes predicts Zcash ( ZEC ) will rise to $10,000: a single-day big pump of 30%, market capitalization first exceeds $5 billion!

Privacy Coin Zcash (ZEC) surged 30% in the last 24 hours, following a bold prediction by Arthur Hayes on X that Zcash could eventually reach $10,000. Influenced strongly by this “sentiment check” prediction, ZEC has accumulated a rise of up to 490% over the past 30 days, breaking through the $5 billion market capitalization barrier for the first time. Analysts point out that in addition to the celebrity effect, the privacy provided by Zcash's use of zk-SNARKs technology, the launch of the Grayscale trust, and the upcoming Halving event have all contributed to its strong rise.

Arthur Hayes' “Sentiment Check”: Zcash Daily Surge

Arthur Hayes, a prominent figure in the crypto industry, released an X message last Sunday, referred to as “sentiment check,” expressing his extreme optimism for the Privacy Coin Zcash, predicting its price could eventually reach an astonishing $10,000. This heavyweight endorsement triggered strong FOMO (fear of missing out) among traders, pushing the ZEC price to surge from $272 to a peak of $355 within hours, with a daily rise of up to 30%.

• Outperforming Peers: During this period, Zcash's performance surpassed all other cryptocurrencies in the top 50 by market capitalization. In the past 30 days, the cumulative rise of ZEC reached a staggering 490%.
• Milestone Breakthrough: Data shows that with this wave of rise, Zcash's market capitalization has historically surpassed the $5 billion threshold for the first time on Sunday.

Crypto trader AB Kuai Dong believes that it was the endorsement from “legendary Silicon Valley investor” Hayes that triggered a large-scale follow-on buying. Another trader, Clemente, admitted that it was “so much FOMO” that forced them to participate in this round of rise.

The Value Reversion of Privacy Coins: The Technical Advantages of Zcash

Since its launch in October 2016, Zcash has experienced nearly nine years of relative silence, but its core privacy technology and the current market environment have brought it back into the spotlight. Trader JonnyJpegs believes that as governments around the world tighten restrictions on cryptocurrency technology, investor interest in Privacy Coins is generally increasing.

The core value of zk-SNARKs

Zcash uses zk-SNARKs technology to ensure transaction privacy, and its operating principle is: it can verify the validity of a transaction without revealing the transaction amount, sender, or receiver address.

Users can choose to execute public and transparent transactions, or they can opt for completely shielded transactions. In shielded transactions, the sender, recipient, and transaction amount all remain confidential.

Along with Zcash, the largest Privacy Coin by market capitalization, Monero has also risen by 3.6% in the last 24 hours, reaching a trading price of $346. However, it is important to note that Monero is still delisted or restricted from trading on most mainstream CEX platforms, including some in Europe.

Technical and Fundamental Catalysts: Forming Multiple Positive Resonances

Technical analysts and market observers point out that Zcash's rebound is not solely dependent on celebrity effect, but is supported by multiple technical patterns and fundamental catalysts.

Technical indicators and events supporting the rise

Technical analyst Lennaert Snyder mentioned that Zcash has been testing the resistance level of $305 and listed several key catalysts:

• Grayscale Trust Launch: The existence of the Grayscale Zcash Trust (ZCES) product provides institutional investors with a compliant investment channel.
• Hyperliquid Listing: The listing on the decentralized perpetual contract platform Hyperliquid enhances liquidity and accessibility.
• Upcoming Halving event: Similar to Bitcoin, Zcash's Halving event is generally viewed as a long-term positive for supply contraction and price rise.

Another analyst, Clifton FX, identified an “ascending triangle” pattern on the 8-hour chart, indicating that once it breaks out, the price could have a potential rise of 100% to 150%. Currently, ZEC is trading within an ascending parallel channel, and the Relative Strength Index (RSI) continues to rise, showing strong ongoing momentum.

Potential Risk Warning: Beware of Overheating Pullbacks

However, some analysts have also expressed a cautious attitude. The current RSI reading has reached 79, which is a clear overbought signal.

• Overbought Risk: An overbought condition may indicate that buyers are exhausted, potentially leading to a price correction in the short term.
• Key support level: The current trading price of Zcash is approximately 333.77 dollars. Traders should closely monitor the support level at 281.35 dollars. A drop below this level may confirm the beginning of a short-term pullback.

Conclusion

Arthur Hayes's bold prediction has successfully ignited the market sentiment for Zcash (ZEC), pushing it towards a historic market capitalization milestone. This not only reflects the celebrity effect but also highlights the intrinsic value of hardcore privacy technologies like zk-SNARKs against the backdrop of increasing concern for privacy rights in the current macro environment. Although technical indicators show that the market is at risk of being overbought, institutional products, expectations of Halving, and strong technical patterns provide multiple supports for Zcash's long-term growth. While investors chase high returns, they need to set strict stop-loss points and remain alert to the risks of short-term corrections.

Disclaimer: This article is news information and does not constitute any investment advice. The cryptocurrency market is highly volatile, and investors should make cautious decisions.