Over the past two months, Zcash (ZEC) has skyrocketed by 1,000%, reaching $383 per token and overtaking both Monero (XMR) and
Shiba Inu
(SHIB) in market capitalization to secure the 21st spot on CoinMarketCap, as reported by
Yahoo Finance
. The privacy-oriented digital currency, which was valued at $34.59 on August 19, now boasts a record-high market cap of $6.24 billion, according to Yahoo Finance. This dramatic ascent has led to comparisons with Bitcoin’s earlier price milestones, with some market watchers arguing that purchasing
ZEC
now is similar to buying
Bitcoin
at $432—referencing BTC’s 2013 price before its extended bull run, the Yahoo Finance article points out.
Arthur Hayes, BitMEX’s co-founder, has fueled the bullish outlook by forecasting that ZEC could hit $10,000 per coin during the expected 2025 altseason, according to
CryptoRank
. Hayes highlighted the coin’s capped supply of 21 million and increasing institutional interest as reasons for a potential 27-fold surge from its current $358 price, as detailed in CryptoRank. His prediction gained momentum after Grayscale introduced a
Zcash
Trust, signaling renewed institutional enthusiasm, while Hyperliquid’s new futures listing and ZEC’s strong performance against privacy competitors like Monero have further boosted sentiment, CryptoRank notes.
Meanwhile, the overall cryptocurrency market is showing mixed signals. As of October 30, 2025, Bitcoin (BTC) hovered around $110,000, but ETFs tracking the asset experienced $488 million in withdrawals, primarily from BlackRock’s IBIT ETF, according to
TradingView
. Despite these outflows, Bitcoin has maintained support above $106,000 and $102,000, TradingView reports. The contrasting trends between Bitcoin and alternative coins reflect a changing risk appetite, with more investors shifting funds into smaller-cap tokens like ZEC in anticipation of positive regulatory shifts, TradingView commentary suggests.
Institutional involvement in Bitcoin has also climbed. Hyperscale Data, a publicly traded company with Bitcoin on its balance sheet, saw its Bitcoin holdings jump 30% in a week to $68.8 million, making up half of its market cap, according to
Seeking Alpha
. Following this announcement, the company’s shares surged 24% in premarket trading, reflecting rising confidence in crypto-linked stocks, Seeking Alpha reports. Such developments highlight a broader movement of corporations adopting Bitcoin as a strategic reserve, a trend that could indirectly benefit altcoins like ZEC by making crypto holdings more mainstream.
Zcash’s next major competitor is
Litecoin
(LTC), which currently ranks 20th by market cap at $7.17 billion, as previously mentioned by Yahoo Finance. There is ongoing debate among analysts about whether ZEC’s technical strengths and institutional support will enable it to surpass
LTC
, but its recent momentum points to a continued revaluation of privacy-focused cryptocurrencies, as highlighted in CryptoRank’s analysis. As the sector awaits possible regulatory updates in the near future, ZEC’s performance may serve as an indicator of risk appetite within the crypto space.