Privacy-focused cryptocurrency Zcash surged 30% in 24 hours following Arthur Hayes predicting it would reach $10,000. Zcash rose from $272 to $355 after Hayes’ post, outperforming top 50 tokens. Hayes’ past predictions have boosted token prices, like Hyperliquid’s HYPE. Traders experienced FOMO due to Hayes’ endorsement.

Trader AB Kuai Dong speculated that Hayes drove Zcash’s rally, attributing it to a “legendary Silicon Valley investor.” Another user named Clemente admitted to joining the Zcash surge out of FOMO. Meanwhile, trader JonnyJpegs suggested the rally was driven by interest in privacy-related tokens amid government crackdowns on encryption.

Zcash has surged 490% in the last 30 days, surpassing $5 billion market cap. Launched in 2016, Zcash uses encrypted ledgers with zero-knowledge proofs for private transactions. Monero, another privacy coin, gained 3.6% to $346 in 24 hours. Despite its market cap, Monero remains delisted or restricted on major exchanges.

Read more at Cointelegraph: Zcash Jumps 30% as Arthur Hayes $10,000 Call Ignites Interest