Privacy-focused cryptocurrency Zcash has surged 30% within the last 24 hours after crypto entrepreneur Arthur Hayes predicted the token would eventually hit $10,000.
Zcash rallied from $272 to a high of $355 within the hours following Hayes' “vibe check” post
This just isn’t the primary time that Hayes' predictions have been linked to the rise of a token. At the WebX 2025 conference in Tokyo in August, he stated that Hyperliquid's HYPE token could rise 126-fold over the subsequent three years, leading to a 4% increase for HYPE.
Source: Arthur Hayes
Hayes’ support gave traders FOMO
Crypto trader and Binance Square worker AB Kuai Dong speculated in an X post on Sunday that the Zcash rally was likely because of Hayes.
He said the backing from a “legendary Silicon Valley investor” caused “everyone to follow the trend and get in on the motion, which subsequently sparked a month-long FOMO market frenzy.”
At the identical time, a user under the pseudonym Clemente, a crypto trader and board member of treasury firm K9Strategy, admitted to jumping on Zcash because they were crammed with “a lot Fomo that I couldn’t get out of the best way on that run.”
Privacy tokens within the highlight
Meanwhile, a trader and investor using the pseudonym JonnyJpegs speculated that the rally was more about users wanting to speculate in privacy-related tokens as more governments seek to crack down on encryption and other privacy-related technologies.
According to CoinGecko, Zcash has rallied 490% over the past 30 days and surpassed the $5 billion market cap threshold for the primary time on Sunday.
The token was launched in October 2016 and uses an encrypted ledger with zero-knowledge proof. Transactions will be transparent and publicly viewable or completely shielded, meaning that each the sender and recipient in addition to the transaction amount are private.
Monero (XMR), one other privacy-focused coin that’s the leading privacy coin by market cap, also gained 3.6% to $346 within the last 24 hours. It stays unlisted or restricted on most major exchanges, including Binance and OKX, in addition to several European trading platforms.
