Zcash (ZEC) Gains 1,000% and Still Has Room to Grow, Grayscale Research Says

Grayscale sees more room for Zcash to grow as its market share rises and demand for blockchain privacy increases. ZCash has been on a wild ride in the past year or so. The privacy-centric crypto asset has rallied by more than 1,000% within this timeframe, while most other alts have stalled. Despite this short-term instability and stall near $1,400, ZEC accumulation continues. More Room to Capture Market Share A whale has been accumulating the cryptocurrency across multiple wallets over the past week, according to Onchain Labs. The main wallet received around 41,690 ZEC and moved about 18,730 out, which leaves a net balance of roughly 22,960 tokens, worth $31.7 million. The wallet also received another 4,200 ZEC, which is approximately $5.84 million. Amidst this accumulation spree, Grayscale Head of Research Zach Pandl said that the token may have more room to grow. ZEC has climbed from around $60 to roughly $1,700 in a year before its most recent pullback. Pandl said the move does not necessarily mean the token has reached a valuation ceiling but reflects its low starting point and its potential market size. Zcash and Bitcoin are both part of the Currencies Crypto Sector. This grou...