Arthur Hayes Bets Big: Zcash (ZEC) Price Soars as Privacy Coin Gains Institutional Interest
Privacy just got profitable—again. Zcash (ZEC), the crypto world's answer to Swiss bank accounts on-chain, is surging after BitMEX co-founder Arthur Hayes revealed a major position. The market’s reacting like it’s 2021 all over again.
Why the sudden rally?
Institutional sharks smell blood in the regulatory waters. With governments cracking down on transparent chains, privacy coins are the new 'offshore holdings' for crypto’s elite. Hayes’ move? A calculated nod to the coming privacy wars.
The irony?
Wall Street still calls crypto volatile while quietly hoarding ZEC ‘just in case.’ Some things never change—except, apparently, the price.
TLDR
- Arthur Hayes confirmed Zcash (ZEC) is now his fund’s second-largest holding after Bitcoin
- ZEC price jumped 31% in one day to reach $717, hitting its highest level since 2018
- Zcash market cap surpassed $10 billion, moving ahead of Hyperliquid to re-enter the top 20 cryptocurrencies
- The token has gained over 700% since early October, rising from around $75 to over $700
- Hayes predicted ZEC could potentially reach $10,000, fueling further interest in the privacy coin
Arthur Hayes has confirmed that Zcash now represents his fund’s second-largest liquid holding after Bitcoin. The announcement came as ZEC surged more than 31% in a single day to reach $717.
This marks the highest price level for the privacy-focused cryptocurrency since January 2018. The token has been on a sustained rally for over a month.
Hayes made the disclosure in a post on X, which quickly gained attention across social media platforms. He went further by stating that ZEC could potentially reach $10,000.
It's just ludicrous.$ZEC to $10k pic.twitter.com/EfyiPB2Azl
— Arthur Hayes (@CryptoHayes) November 7, 2025
The fund manager had previously predicted that ZEC WOULD hit $1,000 shortly after it crossed the $500 mark. His public support has generated considerable discussion among cryptocurrency traders.
Zcash has gained more than 700% since the beginning of October. The token was trading NEAR $75 at the start of the month.
Due to the rapid ascent in price, $ZEC is now the 2nd largest *LIQUID* holding in @MaelstromFund portfolio behind $BTC.
— Arthur Hayes (@CryptoHayes) November 7, 2025
At the time of writing, ZEC is trading above $700. The price recovery represents a return to levels last seen in early 2018.
The recent rally pushed Zcash to a market capitalization of approximately $10.9 billion. This valuation allowed it to surpass Hyperliquid’s $10.8 billion market cap.
The token has re-entered the top 20 cryptocurrencies by market capitalization. This achievement comes despite broader market weakness, including Bitcoin falling below $100,000.
Technology Improvements Drive Interest
The recent launch of the Zashi wallet has improved accessibility for Zcash users. Ongoing work on Project Tachyon has also enhanced the user experience.
Zcash uses zero-knowledge proof technology called zk-SNARKs. This allows users to completely shield their transaction details.
The technology masks transaction addresses, amounts, and memo fields. The total shielded supply of ZEC has reached close to five million tokens.
Market strategist Kennis noted that privacy is increasingly viewed as necessary rather than optional. He described Zcash as positioning itself as an “encrypted Bitcoin” for decentralized finance.
Zcash was created in 2016 through a fork of Bitcoin’s codebase. It is currently the largest privacy-focused cryptocurrency by market capitalization.
Trading Activity Increases
Friday’s price surge triggered over $51 million in short position liquidations. This made Zcash-related positions the third-most liquidated in crypto that day.
$Zec whales finally taking profits
probably it will consolidate for some time to start round 2
i am looking for $514 for short term entry @Zcash consolidation and then $1000? pic.twitter.com/CzhGSebxpE
— Zoe🔶 (@queencryptooo) November 8, 2025
Only Bitcoin and ethereum saw higher liquidation volumes. Over $59 million worth of Zcash positions were liquidated in total, including both long and short positions.
Futures activity for Zcash has continued to climb. According to CoinGlass, Binance holds the largest open interest at around $340 million.
Hyperliquid follows with $332 million in open interest. Bybit ranks third with $157 million.
The token reached a peak of nearly $735 on Friday afternoon before settling back. It remains 79% below its all-time high of $3,191 set in 2016.
The rally comes at a time of increased discussion about blockchain transparency and privacy. Zcash offers an alternative approach to transaction privacy compared to Bitcoin.
