Zcash Jumps 30% as Arthur Hayes $10,000 Call Ignites Interest

Zcash has experienced a significant surge of 30% in the past 24 hours, following a bullish prediction by crypto entrepreneur Arthur Hayes, who believes the token could eventually reach $10,000. This price surge comes after Zcash had already increased by 490% over the last 30 days, marking a historic moment as it crossed the $5 billion market capitalization threshold for the first time. The rally, which saw Zcash rise from $272 to a peak of $355, has been attributed to Hayes' influential endorsement, leading traders to engage in a month-long market frenzy characterized by fear of missing out (FOMO). Notably, interest in privacy-focused cryptocurrencies is rising, as more investors are focusing on the potential of privacy tokens amid increasing governmental scrutiny. For context, Monero, another privacy coin, also saw a notable increase, underscoring this trend in the market.

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