Zcash Surges to Eight-Year High on Grayscale ETF Optimism

The price of Zcash (ZEC) surged to an eight-year high over the weekend, reaching $888. The rally was fueled by optimism around Grayscale's proposed spot ETF and heavy derivatives activity.

Gemini co-founder Tyler Winklevoss weighed in on the cryptocurrency, saying there are more millionaires than whole units of Zcash. He pointed out that 60 million people are millionaires, while ZEC has a hard cap of 21 million.

Winklevoss also clarified that Zcash is not a deflationary token, but rather a disinflationary cryptocurrency with an inflation rate that will decrease over time due to its halvings and hard supply cap.