Grayscale’s head of research, Zach Pandl, said in a post on X that ZEC rose from about $60 to about $1,500 over the past year, while the token’s market capitalization grew from less than 0.1% of Bitcoin’s market value to roughly 1.5%. Grayscale said it does not believe ZEC has reached the upper end of its valuation yet. The firm also said demand for privacy-preserving technology is expected to keep rising. In Grayscale’s view, Zcash still has room to gain market share if it continues to offer privacy features that are stronger than those available in other cryptocurrencies. The comments frame ZEC’s recent move not only as a price rally, but also as a shift in its relative weight against Bitcoin by market capitalization.
Grayscale Head of Research Zach Pandl said in a post on X that ZEC has risen from about $60 to about $1,500 over the past year, and that Grayscale does not see the token as having reached the ceiling of its valuation.
ZEC’s market capitalization relative to Bitcoin has also increased, moving from less than 0.1% a year ago to about 1.5%. Grayscale said demand for privacy-preserving technology is likely to continue growing. If Zcash keeps delivering privacy features that are stronger than those of other cryptocurrencies, the firm said, it still has room to expand its market share.
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