Hyperliquid News Today: Zcash's Hype-Driven Rally: Privacy Breakthrough or Speculative Frenzy?

Zcash (ZEC) has surged over 500% in the past month, breaking through years of stagnation to trade near $370, driven by a bold price prediction from BitMEX co-founder Arthur Hayes and a confluence of market catalysts, according to a CoinEdition report. The privacy-focused cryptocurrency has outpaced broader market gains, with Bitcoin climbing above $115,000, as investors gravitate toward ZEC's unique value proposition, according to a TradingView article. Hayes' recent tweet declaring ZEC could reach $10,000 sparked immediate volatility, with the token jumping 30% within 24 hours, according to 99Bitcoins' report.

The rally coincides with structural developments for ZEC, including the launch of Grayscale's Zcash Trust and a new Hyperliquid futures listing, as noted in CoinEdition coverage. Analysts attribute the momentum to a combination of technical indicators, institutional interest, and growing demand for privacy in an era of heightened regulatory scrutiny, according to a Yahoo Finance piece. ZEC's weekly chart shows a decisive breakout above a long-term descending trendline, with resistance near $400 and support at $305, CoinEdition reported. The token's Chaikin Money Flow and expanding MACD suggest sustained capital inflows, CoinEdition analysts add.

ZEC's privacy narrative has also gained traction, with shielded supply reaching 4.5 million coins—a record indicating increased adoption of zero-knowledge proofs (zk-SNARKs) to obscure transaction details, according to a TradingView report. This aligns with broader industry trends prioritizing confidentiality, though some experts caution that price gains may outpace actual usage, a Yahoo Finance analysis warns. "ZEC is the perfect case study for how narratives emerge and go viral," noted DeFi analyst Ignas DeFi, warning of a "reflexive feedback loop" where social media hype drives retail buying, CoinEdition coverage observed.

Hayes' influence, however, remains a double-edged sword. While his endorsement has drawn attention to ZEC's potential, critics argue his track record for over-optimistic price targets—such as his controversial Bitcoin and Dogecoin calls—could lead to a "sell the news" scenario, 99Bitcoins cautioned. Meanwhile, Hyperliquid, the decentralized exchange where ZEC futures were listed, faces challenges from zero-fee competitors, raising questions about its sustainability, according to a CoinEdition article.

Technical analysts see both opportunity and risk. ZEC's current trajectory could test $550–$600 in the medium term if it holds above $300, though a breakdown below $305 might trigger a deeper correction, CoinEdition noted. The upcoming Zcash halving in mid-November, which will cut miner rewards, is another potential catalyst, CoinEdition analysts add. Institutional investors are also watching closely, with Zcash's market cap surpassing $6 billion as of October 2025, 99Bitcoins reported.

Market sentiment remains polarized. Optimists liken ZEC's rally to early Bitcoin and Ethereum mania, citing its structural advantages and growing institutional adoption, Yahoo Finance observed. Skeptics, however, emphasize the need for caution. "Many may become exit liquidity for coordinated pumps," warned DeFi analyst Ignas, highlighting the risks of speculative frenzies, Yahoo Finance cautioned.

As ZEC's price continues to test psychological and technical thresholds, the cryptocurrency's ability to balance hype with fundamentals will determine whether Hayes' $10,000 vision becomes a reality—or another crypto-era cautionary tale.