Zcash rose approximately 19x over the past year, but Grayscale believes it remains undervalued

Odaily Planet Daily News: Privacy-focused cryptocurrency Zcash has risen approximately 19x over the past year, yet its market cap remains less than 1% of Bitcoin's. Digital asset management firm Grayscale stated that financial privacy, cybersecurity development, and cross-chain connectivity capabilities could drive Zcash to further expand its market share.

As of August 29, Bitcoin's market cap stood at $1.56 trillion, while Zcash's market cap was $13.74 billion—roughly 0.88% of Bitcoin's, meaning Bitcoin's market cap is approximately 114 times larger. Grayscale estimates that if ZEC were to reach 2%, 5%, and 10% of Bitcoin's market cap, the corresponding prices would be $1,622, $4,054, and $8,109 respectively; these scenarios are not price predictions.

On August 25, Grayscale's Zcash ETF began trading on NYSE Arca under the ticker ZCSH, moving from OTCQX to NYSE Arca, providing investors with exposure to spot ZEC without needing to directly purchase tokens or manage wallets and private keys.

Zcash uses proof-of-work and has a fixed supply of 21 million coins, and supports hiding transaction details through zero-knowledge proofs. Its intents technology can coordinate cross-chain transactions based on user goals, such as swapping other digital assets into ZEC. (Bitcoin.com News)