Zcash (ZEC) Rockets 20% as Arthur Hayes Predicts $1,000 Price Target Amid Historic Rally

Zcash (ZEC) has defied the broader crypto market downturn, surging more than 20% on Thursday to extend its astonishing month-long rally beyond 1,000%. The privacy-focused cryptocurrency has become one of the most sought-after digital assets, fueled by bold predictions and growing investor confidence.

BitMEX co-founder Arthur Hayes once again made headlines after forecasting Zcash to hit $1,000 in the short term. Hayes, who has long been bullish on privacy coins, reiterated his long-term target of $10,000, urging followers on X (formerly Twitter) to keep accumulating while skeptics short the coin. His earlier prediction for ZEC to surpass $400 by Halloween materialized swiftly, sparking renewed momentum among traders and investors.

Zcash founder Zooko Wilcox also contributed to the surge by highlighting the upcoming Network Sustainability Mechanism, a plan designed to strengthen the project’s long-term security and sustainability. Additionally, institutional developments have amplified optimism, including Grayscale’s launch of the Zcash Trust for accredited investors and Hyperliquid’s 5x leverage listing for ZEC trading.

On-chain analytics further reveal that both retail and whale investors are aggressively accumulating ZEC. A newly created wallet recently gained over $2.7 million in unrealized profits, underscoring the intensity of market interest. Meanwhile, ZEC’s open interest has skyrocketed to $863.58 million, up nearly 30% within 24 hours, signaling a surge in leveraged trading activity on exchanges such as Binance, OKX, and Bybit.

At the time of writing, Zcash trades around $521.50, marking a sharp rise from its 24-hour low of $429.23. With increasing volume and strong momentum, analysts suggest that ZEC could continue its breakout trajectory if market sentiment remains positive and institutional participation grows.