Zcash Tries to Chip Away at Bitcoin's Dominance

Grayscale Research has released a note stating that Zcash (ZEC) has features that could help it challenge Bitcoin's dominance in the market. According to Zach Pandl, head of research at Grayscale, Zcash offers three advantages over Bitcoin: financial privacy, quantum defense, and 'intents' technology.

The note comes as Grayscale launched its first spot ZEC exchange-traded product (ETP), causing the token's price to rise to its highest level since 2018. Despite this, Zcash still has a long way to go, with a market value of around $13.3 billion and a price of approximately $790.

Grayscale estimates that if ZEC reaches 2% or 10% of Bitcoin's market share, its price could rise to $1,622 or $8,109, respectively. However, the firm also warns that these projections are hypothetical and illustrative, and that any gains would not be linear.