Zcash Sees Strong Buying Pressure as Bitcoin Investors Seek Alternatives

David Hoffman, co-founder of Bankless, believes that Zcash ($ZEC) is becoming an attractive alternative to Bitcoin for investors. According to him, $ZEC's market value has risen from approximately $200 million to $26 billion, sparking strong buying pressure.

Hoffman points out that a similar phenomenon occurred in 2021 with Ethereum ($ETH), when it attracted significant capital from Bitcoin investors, causing its market capitalization to rise from around $12 billion to a peak of $554 billion. Hoffman boldly compares Zcash's current position to Ethereum's in 2021.

He attributes the strong buying pressure on $ZEC to the large pool of capital controlled by Bitcoin investors, who are looking for alternative investment options besides $BTC. Hoffman notes that while some Bitcoin investors buy $ZEC directly due to its technological features, others add it to their portfolios as a hedge against Bitcoin investments.

In addition to Zcash, Hoffman also sees Near Protocol ($NEAR) gaining traction among smart contract platforms, potentially becoming a new focal point for investors in 2026. However, he notes that capital flows into $NEAR have been weaker and more dispersed compared to $ZEC.