- Grayscale says Zcash could challenge Bitcoin by offering privacy, quantum defense, and intents.
- ZEC could reach $1,622 or $8,109 if it captures 2% or 10% of Bitcoin’s market share.
Grayscale Research believes Zcash (ZEC) could take a share of Bitcoin’s dominance in the crypto market. The firm points to three features that could give Zcash an edge: privacy, quantum resistance, and intents.
The analysis comes as Grayscale launches its first spot Zcash exchange-traded product (ETP). ZEC has also climbed to its highest price since 2018, drawing fresh attention to its long-term potential.
Bitcoin Still Dominates the Currencies Sector
Bitcoin remains far ahead of its rivals. Grayscale’s Crypto Sectors framework shows that BTC controls about 93% of the Currencies category by market capitalization.
Bitcoin’s market value stood near $1.58 trillion, with BTC trading around $78,645. Zcash, meanwhile, had a market value of about $13.3 billion. ZEC traded close to $790.
That puts Zcash at less than 1% of Bitcoin’s market value. However, ZEC has gained about 19 times over the past year. Grayscale sees the large gap as potential room for Zcash to grow.
Three Features Could Give Zcash an Edge
Grayscale Research head Zach Pandl identified three areas where Zcash differs from Bitcoin.
1. Privacy
Zcash was designed to support private transactions. Grayscale believes this feature could become more valuable as AI-powered surveillance expands.
2. Quantum Defense
Zcash developers are working on security risks linked to future quantum computing. Such technology could eventually threaten some forms of traditional cryptography.
3. Intents
The third feature is intents, which are gaining attention in modern crypto wallets. They could allow users and AI agents to interact with different services without requiring widespread merchant adoption.
Pandl argued that Zcash could serve as a private asset hub with broader connectivity through intents.
Grayscale Research believes Zcash $ZEC has a real shot at capturing Bitcoin $BTC market share.
@Zcash has second mover advantages Bitcoin doesn't:
↳ Financial privacy in an era of AI-powered surveillance
↳ Cross-chain reach through $NEAR Intents
↳ Active development against… pic.twitter.com/EezUCAdUET— Grayscale (@Grayscale) August 27, 2026
Zcash Could Reach $8,109 Under One Scenario
Grayscale also modeled potential ZEC valuations based on Bitcoin’s market share. Under its five-year supply estimate, Zcash could reach $1,622 if it captures 2% of Bitcoin’s market capitalization. A 10% share would place ZEC at about $8,109.
With ZEC near $790, those scenarios represent gains of roughly 105% and 927%. However, Grayscale stressed that these figures are hypothetical and illustrative. They should not be viewed as price targets or guarantees.
Bitcoin also retains major advantages, including transparency, simplicity, liquidity, and strong network effects.
For now, Zcash remains much smaller than Bitcoin. Yet its privacy focus, work on quantum security, and wallet-based intents could give ZEC a different path to growth.
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