Zcash pumps 30% after Arthur Hayes’ ‘vibe check’ tips $10K target
Zcash surged 30% after Arthur Hayes predicted the privacy coin could eventually reach $10,000.Summary
Privacy-focused cryptocurrency Zcash (ZEC) rallied 30% in 24 hours, hitting a peak of $355, following a bullish prediction by crypto entrepreneur Arthur Hayes that the token could eventually reach $10,000. Hayes's endorsement, described as a "vibe check" on X, triggered significant FOMO among traders, leading to ZEC outperforming all other top 50 tokens by market capitalization during that period. This surge also helped Zcash cross the $5 billion market capitalization threshold for the first time. Some analysts speculated that the rally was also driven by broader investor interest in privacy tokens amid increasing government scrutiny on encryption technologies. Zcash, which launched in 2016, uses zero-knowledge proofs to allow for fully shielded, private transactions.
(Source：Cointelegraph)