Key Insights:
- VanEck CEO sparks speculation with his recent comments on Bitcoin and Zcash.
- He noted that market participants are shifting focus towards Zcash due to its privacy-focused feature.
- ZEC price may hit $700 if it reclaims a major support ahead.
The Zcash (ZEC) crypto has once again stolen the spotlight, as recent crypto news indicates that the traders are shifting focus towards the privacy coin. In a recent interview, VanEck CEO Jan van Eck sparked discussions, saying that prominent investors, including Bitcoin maxis, are now keeping close track of the privacy-focused crypto.
Besides, he has also fueled discussions, saying that the firm would reconsider its Bitcoin stance if quantum risks compromise its core thesis. Notably, these remarks have once again ignited the long-term security debate of BTC, especially as the early Bitcoin loyalists are moving towards other assets.
Crypto News: Bitcoin Maxis Moving Towards Zcash
In the latest crypto news, a CNBC interview with VanEck CEO has gained notable traction, sparking concerns over the waning appeal of Bitcoin.
Jan van Eck said that long-time Bitcoin supporters now face two major concerns: the durability of Bitcoin’s encryption and the lack of privacy on its transparent blockchain.
He explained that the industry is asking whether Bitcoin can withstand future quantum computing breakthroughs that could challenge its cryptographic backbone. He also stressed that the open ledger of Bitcoin exposes user activity in ways many no longer find acceptable.
In his view, these issues are no longer peripheral. Van Eck suggested that even “Bitcoin OGs” are studying privacy-centric models like Zcash to understand whether they offer stronger long-term protection.
Meanwhile, he also mentioned that his firm would reconsider its position on Bitcoin if emerging risks undermine its core investment thesis. These comments have fueled discussions, especially as Zcash (ZEC) has continued to attract traders amid soaring demand for privacy coins.
Zcash Hype Soars Amid Demand for Financial Privacy
As said, VanEck CEO noted that Zcash has emerged as a leading contender to Bitcoin now. Built on zero-knowledge proofs, it allows transactions to remain shielded while still verifiable.
Van Eck said many early Bitcoin adopters see Zcash as a model for stronger privacy frameworks. In other words, the users demand greater control over financial privacy, which has boosted the appeal of ZEC crypto.
Besides, prominent figures in the crypto space, like Arthur Hayes, have also revealed their trust in the project. In a recent X post, Hayes said that he considers ZEC as a hedge against the market downturn, which has caught the eyes of investors.
Can ZEC Price Hit $1000?
Despite the positive discussions around Zcash, ZEC crypto has lost more than 19% in the last 24 hours to $504. However, its trading volume was up around 8% to $2.77 billion, and the crypto has hovered between $471.55 and $641.32 since yesterday.
The dip could be attributed to the broader crypto market selloff, which has dragged down BTC price to below $81k. However, despite the dip, the market experts are anticipating a strong rally in the asset’s price in the near future.
It’s worth noting that some predictions also hint at a potential ZEC price rally to $1,000. Amid this, market expert Ardi notes that ZEC price rejected the neckline on the breakout of its right shoulder at $700, leading to a double top formation and a price drop to $535.
According to Ardi, the $535 level is a crucial support zone, and Zcash may rotate back to $680-$700 if it can reclaim the support. However, a loss of this level could lead to a slide into $480, invalidating the IH&S pattern.
In addition, the analyst said that the major resistance for Zcash price lies at $611, $700, and $740. Considering that, investors are keeping close track of ZEC to reclaim the $535 support in the near future.