BitMEX Founder Predicts Zcash Crypto (ZEC) Price to $10,000

Former Bitmex CEO Arthur Hayes has shared a new price target for Zcash (ZEC). He believes the coin could rise to $10,000.

His view comes as Zcash trades above $300 amid soaring bullish sentiment online. Some users are even comparing Zcash to the early days of Bitcoin.

However, others worry because one mining pool holds more than 70% of the network.

Why Arthur Hayes Thinks Zcash Crypto Has Big Room To Grow

Zcash is once again in the spotlight after a post on X from BitMEX co-founder Arthur Hayes.

He wrote that Zcash could reach $10,000. His post drew fast reactions since Zcash has already shown a strong increase this month.

Additionally, the price chart shared online indicates that Zcash is trading around $308 on Binance. It also shows a gain of approximately 11.68% on the day and a gain of about 465.51% over the past month.

Meanwhile, the rising price chart has caught the eye of traders who are watching new moves in older coins.

Some users also looked at a past moment in Bitcoin history. They pointed out that Bitcoin price traded at $283.70 on October 25, 2015.

They said this is close to the recent Zcash price on the same date, ten years later.

After Bitcoin traded at that price, it later climbed to much higher levels during its first major rally.

This comparison is now part of the Zcash conversation. A few posts say a similar move from today’s price could bring Zcash as high as $19,575.

The number is based on simple math from Bitcoin’s gains. Supporters argue that this indicates Zcash still has a bullish path ahead if interest continues to grow.

People who like the project also focus on what makes Zcash different. They describe it as a private form of Bitcoin.

They say it works like Bitcoin, but with hidden wallet addresses and hidden transaction details.

It employs specialized proofs to achieve this. These proofs enable private use while the network continues to verify every transaction.

Some online posts bring up notes from old crypto forum messages. Historically, Satoshi Nakamoto and Hal Finney discussed the idea of incorporating privacy proofs into Bitcoin.

They believe Zcash has now built that idea with real working tools.

Proponents are convinced this gives Zcash a clear use case that Bitcoin does not offer in the same way.

A Simple Idea: Bitcoin With Privacy Added

Zcash has a similar supply structure to Bitcoin. New coins are reduced over time, and there is a fixed supply.

Proponents of the project believe this places Zcash in the same category as Bitcoin in terms of scarcity.

The special feature is privacy. People can transfer money without revealing the recipient’s identity.

The general believe is that many users might want this. It is worth noting that privacy is a fundamental aspect of finance in daily life, and the same principle applies to blockchain systems.

The price jump seen in ZEC this month has given more attention to this idea. More people are talking about the project.

The TradingView chart shared online shows strong growth from earlier this year, when Zcash price traded below $50.

That rise is relatively large in a short period, and it has piqued traders’ curiosity about what could come next.

One Mining Pool Holds Most Of Zcash Crypto Hash Power

Alongside the excitement, a risk has also become visible.

A chart from MiningPoolStats shows that one group of miners, viaBTC.com, holds about 70.8% of the Zcash hash rate.

An unknown source holds 19.1%. All other pools have only small shares. The chart covers 1,000 recent blocks.

This is raising debate about network control. When one pool mines the majority of blocks, it may exert too much influence over the chain.

Market participants believe that a healthy network is one where miners are spread out, so that no single group has power over others.

Nevertheless, the chart has made people call for more balance across mining pools. They say this is important if Zcash wants long-term trust and to prevent a Monero 51% takeover situation.