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Zcash Could Rise to $800 After Major Hedge Fund Bet on ZEC
Zcash continues to receive support from several directions at once: a listing on Robinhood, easing tensions between the United States and Iran, and a reduction in the available supply of ZEC are fueling interest in the coin.
Over the past month, Zcash has significantly outperformed the broader crypto market. The coin gained more than 125%, while most cryptocurrencies rose by an average of around 15% during the same period.
ZEC/USD performance compared to the crypto market capitalization over the past 30 days. Source: TradingView.
The privacy-focused cryptocurrency Zcash may continue rising in the coming weeks due to a combination of strong technical and fundamental factors.
Multicoin’s Statement Increased Interest in ZEC
On Tuesday, US crypto hedge fund Multicoin Capital, which manages approximately $2.7 billion in assets, revealed a major position in Zcash. Following the announcement, the market once again began discussing renewed institutional interest in privacy coins.
Fund co-founder Tushar Jain said the company began gradually accumulating ZEC back in February.
According to him, Zcash remains one of the most accessible public instruments for betting on private digital money resistant to censorship and confiscation.
Essentially, Multicoin expects demand for digital privacy tools inspired by the old cypherpunk movement to continue growing.
Read also: 3 oil stocks to watch in May 2026.
Over the past 24 hours, Zcash surged more than 43%. The market appears to have interpreted Multicoin’s statement as a signal that large investors are once again turning their attention to privacy cryptocurrencies.
ZEC Chart Still Points to Potential Further Growth
From a technical perspective, Zcash is currently breaking out of a bullish flag pattern on the weekly chart.
This pattern usually appears after a sharp upward move, when the price temporarily consolidates or slowly declines within a downward channel.
A continuation signal appears when the price breaks above the upper boundary of that channel. Afterward, the market often advances by a distance comparable to the previous upward wave.
Weekly ZEC/USDT chart. Source: TradingView.
Applying this pattern to the current ZEC chart suggests the next target after the breakout lies around $800. On Wednesday, ZEC had already climbed to $607, leaving approximately 40% upside potential to the projected target.
The weekly RSI also remains supportive of buyers.
As long as RSI stays slightly below the 70 mark — commonly considered the overbought zone — the market does not yet appear overheated.
Meanwhile, Arthur Hayes, co-founder of BitMEX, believes ZEC’s upside potential could be much higher. In his view, ZEC’s market capitalization could eventually reach 10% of Bitcoin’s market capitalization.
Under such a scenario and with the current circulating supply, the price of Zcash could theoretically range between $8,000 and $10,000 per coin.
ZEC/BTC price dynamics. Source: TradingView.
Robinhood Listing and Supply Reduction Strengthen ZEC’s Position
Several factors are currently fueling the rise of Zcash simultaneously.
ZEC continues to climb alongside the broader crypto market amid hopes for easing tensions between the United States and Iran. A similar situation was observed in early April when investors became more willing to return to risk assets.
An additional catalyst was the listing of ZEC on Robinhood on April 23. This gave the token access to the platform’s 25.9 million users, including traders from more heavily regulated regions such as New York.
At the same time, according to ZecHub.WIKI, more than 30% of all ZEC is now held in shielded addresses. This indicates that interest in private transfers within the network has grown significantly.
The amount of ZEC held in shielded addresses continues to increase. Source: ZecHub.WIKI.
See also: "Toncoin Price Surges 32% in 24 Hours as Pavel Durov Pushes Telegram Into the TON Ecosystem"
