Privacy coin Zcash climbed into the $836 to $857 range, reaching an eight-year high and extending its gain for the year to more than fourfold, according to Techub News. The move came as Gemini founders Cameron and Tyler Winklevoss made a series of recent comments linking Zcash’s long-term value directly to the development of artificial intelligence.
The twins argued that anyone bullish on AI should also be bullish on Zcash, saying private money will be critical in an era of superintelligence to guard against AI-driven financial surveillance. They also pointed to ZEC’s capped supply of 21 million coins, adding that the number of whole units currently in circulation is even smaller than the global population of millionaires.
The report also said Grayscale has converted its Zcash trust into a spot ETF, which is expected to list on NYSE Arca on Aug. 25 under the ticker ZCSH. Grayscale plans to use 100% of sponsor fees during the 12 months after the ETF registration statement becomes effective to support marketing, development, and education for the Zcash network.
Zcash (ZEC) rose to the $836 to $857 range, marking an eight-year high, with its gain for the year topping fourfold, according to Techub News.
Recent comments from Gemini founders Cameron Winklevoss and Tyler Winklevoss tied Zcash’s long-term value directly to the development of artificial intelligence. The brothers said, 「If you are bullish on AI, you should be bullish on Zcash,」 arguing that private money will be essential in an era of superintelligence to defend against AI-driven financial surveillance.
Privacy case moves to the center of the Zcash narrative
Zcash is a privacy-focused Layer1 blockchain that uses zk-SNARKs zero-knowledge proof technology to hide transaction details. The Winklevoss brothers also said ZEC has a maximum supply of 21 million coins, and that the number of whole units currently in circulation is even lower than the number of millionaires worldwide.
They also said developers can use AI to audit and improve the network’s code security.
Grayscale advances spot Zcash ETF plan
Beyond the token’s price move, the report said Grayscale has converted its Zcash trust into a spot ETF, which is expected to list on NYSE Arca on Aug. 25 under the ticker ZCSH.
Grayscale plans to direct 100% of sponsor fees during the 12 months after the ETF registration statement becomes effective toward marketing, development, and educational support for the Zcash network.
The report cited U.Today as the source of the information.
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