Zcash price is once again in focus as Grayscale Chairman Barry Silbert recently lauded the crypto. The recent backing from the expert comes as the privacy coins have gained notable traction among global traders.
On the other hand, this comes as the market experts have shared a bullish outlook on the Zcash (ZEC) crypto price. For context, in a recent X post, prominent Zcash backer Arthur Hayes has hinted at a potential surge for the ZEC price to $400.
Zcash Price in Focus Amid Regulatory Woes
The privacy coins have seen renewed traction as global regulators are tightening their control over the digital assets. For context, the Brazil Central Bank recently revealed plans to ban stablecoins and crypto for cross-border settlements.
As per the latest updates, the rule will be effective from October 1, indicating a growing scrutiny of crypto transactions worldwide.
Meanwhile, Grayscale executive Barry Silbert commented on the update, which has caught the eyes of traders. He noted that restricting decentralized assets is inherently difficult, and privacy-centric networks operate beyond easy surveillance.
Silbert also said that Zcash (ZEC) represents financial freedom in such an environment. His remarks resonate with how traders are now revisiting privacy coins as tools for financial autonomy.
Arthur Hayes Hints at ZEC Price to $400
Amid the soaring appeal of Zcash (ZEC) crypto, BitMEX co-founder Arthur Hayes has further fueled the bullish sentiment. In a recent X post, Hayes has recorded a rally for the Zcash price to around $392 and hinted towards a potential run to $400 ahead.
In addition, Hayes has also predicted a potential surge for the ZEC price to $10k in the long run. On the other hand, the soaring appeal of the crypto is further evidenced by the leading crypto exchange, Robinhood, listing the token.
Meanwhile, Zcash price hovered near the $388 mark at the time of writing, after touching a 24-hour high of $392. The crypto has recorded a weekly gain of 8%, while its monthly surge was recorded at 61%.
