BitMEX co-founder Arthur Hayes has sparked renewed discussion about
Zcash
(ZEC) by forecasting that this privacy-oriented digital asset could climb as high as $10,000, with a nearer-term milestone of $400. Hayes shared his outlook on X, and his comments have circulated widely in the crypto community, drawing attention to ZEC’s technical progress and growing institutional interest. However, some market observers remain doubtful about the likelihood of such a dramatic price increase, according to a
CoinEdition article
.
Hayes bases his bullish stance on Zcash’s distinctive attributes, such as its implementation of zero-knowledge proofs (zk-SNARKs) that enable selective privacy—setting it apart from rivals like Monero (XMR). Institutional players, notably Grayscale, have also demonstrated confidence in
ZEC
, with the Grayscale Zcash Trust reportedly managing $137 million in assets, as stated by CoinEdition. ZEC’s capped supply and recent technical signals, including a multi-year bullish breakout on the weekly chart, further reinforce Hayes’ argument, according to
a Yahoo Finance report
.
Current market trends appear to support Hayes’ perspective. Over the past three months, ZEC’s value has soared by more than 750%, reaching $358 in October 2025—a 13.2% gain in just 24 hours, according to
a Lookonchain report
. Open interest in ZEC futures has hit an all-time high of $529 million, indicating increased speculative trading, as highlighted by CoinEdition. At the same time, regulatory changes such as the Federal Reserve’s interest rate reductions and the conclusion of quantitative tightening are creating favorable conditions for altcoins ahead of a potential “altseason,” CoinEdition notes.
Yet, not everyone is convinced by Hayes’ bullish outlook. Analysts like Ignas DeFi warn against hype-driven surges, suggesting ZEC could become “an example of how narratives form and spread,” as covered by Yahoo Finance. Technical analysis also offers mixed signals: while the RSI points to overbought territory, the ongoing upward channel could mean further gains if the $281.35 support holds, Yahoo Finance reports.
BlackRock’s leading position in
Bitcoin
ETF inflows—amassing $28.1 billion—has led institutions to turn their attention to
Ethereum
and other altcoins like ZEC, as mentioned by
Coinotag
. The NYSE’s recent introduction of
Solana
,
Litecoin
, and
Hedera
ETFs reflects a growing demand for diversified crypto investment options. This broader shift could enhance ZEC’s attractiveness, especially as Grayscale and other companies roll out more institutional-grade products for privacy coins, according to CoinEdition.
Hayes’ history of making bold market calls lends credibility to his ZEC forecast. Known for his unconventional takes on Bitcoin and Ethereum, he has previously shaped investor sentiment. Still, the $10,000 projection remains highly speculative, as it would require extraordinary levels of adoption and regulatory approval for privacy-focused cryptocurrencies, as pointed out in
a Bitcoinsistemi write-up
.
