Zcash Rises Nearly 19 Times in the Past Year, Grayscale Claims It Is Still Undervalued

The privacy-focused cryptocurrency Zcash has surged nearly 19 times in the past year, yet its market capitalization remains less than 1% of Bitcoin's. Digital asset management firm Grayscale states that financial privacy, cybersecurity development, and cross-chain connectivity could drive Zcash to further expand its market share. As of August 29, Bitcoin's market cap stood at $1.56 trillion, while Zcash's market cap was $13.74 billion, approximately 0.88% of Bitcoin's, making Bitcoin's market cap about 114 times larger. Grayscale estimates that if ZEC reaches 2%, 5%, and 10% of Bitcoin's market cap, the corresponding prices would be $1,622, $4,054, and $8,109, respectively; these scenarios are not price predictions. On August 25, Grayscale's Zcash ETF began trading on NYSE Arca under the ticker ZCSH, providing investors with exposure to spot ZEC without the need to directly purchase tokens or manage wallets and private keys. Zcash employs proof-of-work and has a fixed supply of 21 million coins, supporting the concealment of transaction details through zero-knowledge proofs. Its intents technology can coordinate cross-chain transactions based on user objectives, such as exchanging other digital assets for ZEC.