Arthur Hayes Claims Zcash Could Surpass XRP as ZEC Surges 45%

Jakarta, Pintu News – The co-founder of BitMEX has again expressed an optimistic view on Zcash (ZEC). He revealed that ZEC is the second largest liquid holding in his investment portfolio after Bitcoin (BTC).

This time, he stated that ZEC is a superior altcoin to XRP (XRP), even mentioning the possibility that ZEC’s market capitalization could surpass XRP in the future.

Arthur Hayes Rates Zcash as Superior to XRP

In a post on the X platform, BitMEX co-founder Arthur Hayes stated that Zcash is superior to XRP, implying the potential for ZEC to surpass XRP’s market capitalization in the future.

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Currently, Zcash ranks 12th in the global crypto market with a capitalization of around $10 billion, while XRP is still far ahead with $135 billion.

Hayes also revealed that he returned to buying ZEC as the recent price increase trend. As previously reported by CoinGape, Zcash is the second largest liquid asset in his investment fund, right after Bitcoin.

He predicts that the ZEC to BTC exchange rate could reach 0.2, which when converted equates to a price of around $19,200 per ZEC. If this scenario is realized, Zcash’s market capitalization could reach $313 billion, potentially making it the third largest crypto asset after Bitcoin and Ethereum (ETH).

The ZEC price itself has been a resilient performer amidst the general downward trend in the crypto market. Based on data from CoinMarketCap, Zcash rose more than 16% over the weekend, and briefly breached the $700 price, recording a 45% gain.

This rise coincided with early accumulation by Cypherpunk, the company that manages the Zcash treasury. It announced that it had purchased 203,775 ZECs worth nearly $50 million, at an average price of $245 per ZEC. With this acquisition, the company now controls about 1.25% of the total ZEC supply.

Zcash’s Dominance in the Privacy Sector and Comparison with Solana and XRP

Research firm Delphi Digital notes that Zcash (ZEC) still holds a dominant position in the privacy-based crypto sector. In the context of the increasing adoption of privacy narratives in real time, ZEC is said to have been the main beneficiary of this trend, with a 10-fold price surge from its lowest point, while other privacy tokens lagged behind in performance.

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One such example is TORN, which despite recently recording a total value locked (TVL) of $1.23 billion, continues to show weak price performance compared to ZEC. This confirms Zcash’s superiority not only in terms of technicals, but also in market response.

However, Delphi Digital notes that ZEC’s popularity among the public is not yet on par with other major altcoins. Based on global search trends, Zcash still lags far behind Solana (SOL) and XRP, suggesting that despite its strong performance, the coin is yet to gain major attention from the mainstream of crypto users.

FAQ

Who is Arthur Hayes?

Arthur Hayes is the co-founder of BitMEX, a crypto derivatives trading platform.

What is Zcash and how is it currently performing?

Zcash (ZEC) is a privacy-focused crypto asset. Currently, Zcash is experiencing significant price gains with a market capitalization of $10 billion.

What is Ripple’s current market capitalization?

The current market capitalization of Ripple (XRP) is $135 billion.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

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