Zcash's price has surged past $585, marking a significant increase fueled by strategic investments and new trading opportunities.
Zcash (ZEC) has crossed the $585 mark for the first time since November 2025, reflecting a remarkable increase of over 70% since early May. Currently, the coin is trading around $577, showing a daily gain of 36.6%.
As ZEC’s market capitalization approaches $10 billion, it has re-entered the ranks of the top 15 cryptocurrencies.
Multicoin Capital's Strategic Investment
A significant factor behind this surge is the investment strategy of Multicoin Capital, led by co-founder Tushar Jain. He revealed that the firm has constructed a "significant position" in Zcash since February, viewing it as a move towards revitalizing the foundational principles of the crypto space.
1/ Multicoin has built a significant position in $ZEC since February.
Zcash is a return to the cypherpunk ideals crypto was founded on.
— Tushar Jain (@tushar_jain) May 5, 2026
Jain highlighted the growing political discourse around capital controls and asset seizures, which is driving demand for assets that offer both financial privacy and resistance to censorship. He emphasized that while Bitcoin is censorship-resistant, it does not prevent government confiscation of known reserves through taxes. ZEC, he argues, provides a cleaner public avenue for this investment sentiment.
Interestingly, Multicoin's current perspective contrasts sharply with its 2019 stance, where it viewed privacy more as a feature of valuable cryptocurrencies rather than a standalone product.
Additional Drivers of Zcash's Growth
Further bolstering ZEC's price is its recent listing on the Robinhood trading platform, which has opened up access for retail investors. Additionally, the network has seen a significant increase in the amount of ZEC stored in shielded wallets, rising from 1.92 million to 4.55 million in the past year. Now, nearly 30% of the circulating supply resides in these private addresses, an all-time high.
Moreover, a bullish forecast from BitMEX co-founder Arthur Hayes suggests ZEC could eventually reach 10% of Bitcoin's value, adding to the positive sentiment surrounding the coin.
Remember the $ZEC target is 10% of $BTC's price. We got a lot of pumping to go.
— Arthur Hayes (@CryptoHayes) May 6, 2026
It is important to note that earlier this year, all developers associated with Zcash left the Electric Coin Company due to internal disputes. Following this, the team announced the formation of the Zcash Open Development Lab and rebranded their primary wallet from Zashi to Zodl.
