Zcash Up Roughly 19x in a Year; Grayscale Says It Remains Undervalued

Privacy-focused cryptocurrency Zcash has climbed about 19x over the past year, yet its market value remains below 1% of Bitcoin's. Digital asset manager Grayscale argues that Zcash is still undervalued. Financial privacy, cybersecurity development, and cross-chain connectivity could be the drivers that help it capture a bigger share of the market, the firm said. Market data as of Aug. 29 puts Bitcoin's market capitalization at $1.56 trillion and Zcash's at $13.74 billion. That leaves Zcash at roughly 0.88% of Bitcoin's market cap, with Bitcoin about 114 times larger. Grayscale also outlined hypothetical scenarios: if ZEC's market cap reached 2%, 5%, and 10% of Bitcoin's, the corresponding prices would be $1,622, $4,054, and $8,109. The company was explicit that these scenarios are not price predictions. On Aug. 25, Grayscale's Zcash ETF began trading on NYSE Arca under the ticker ZCSH, after moving from OTCQX. The fund offers exposure to spot ZEC without requiring investors to buy the token directly or manage wallets and private keys. Zcash runs on a proof-of-work model with a fixed supply of 21 million coins. It also supports zero-knowledge proofs, which can obscure transaction details on-chain. The project's intents technology is designed to coordinate cross-chain trades around user goals — for example, swapping other digital assets into ZEC. (Source: Bitcoin.com News)