Zcash Price Rally: Grayscale Weighs In on Potential Market Share

Grayscale has analyzed Zcash's recent price action and market capitalization growth. Since November 2025, when analyst Baron Dominus predicted a $100,000 target for ZEC, the cryptocurrency has gained significantly. From around $60 to roughly $1,500, ZEC has increased in value by about 25 times.

Despite this impressive rise, Grayscale notes that Zcash's market capitalization remains at just 1.5% of Bitcoin's. This is a crucial point for the analysis, as it suggests that Zcash still has room to grow and capture more market share from its larger competitor.

Grayscale attributes Zcash's potential for further growth to its unique feature: privacy. The cryptocurrency uses zero-knowledge proofs to shield transaction information, which Grayscale believes could become increasingly valuable in a world where digital surveillance and analysis are becoming more sophisticated.

The firm also highlights that XRP currently represents nearly 6% of Bitcoin's market capitalization, while several major altcoins reached at least 3% during the 2017-18 cycle. Zcash has not yet achieved this level, but Grayscale suggests it could still capture a significant share of the market.