ZCash Surges 20% in 24 Hours, Entering Top 25 Cryptocurrencies with Market Cap of Over $1 Billion

ZCash has surged over 20% in the past 24 hours, adding over $1 billion to its market capitalization and entering the top 25 cryptocurrencies. The rally is attributed to a post by BitMEX co-founder Arthur Hayes, who described ZCash as a "vibe check" and suggested the token could reach $10,000. Analysts believe the rise reflects a renewed investor focus on privacy coins and on-chain developments, such as shielded transaction volumes and upcoming upgrades. The cryptocurrency's daily price chart suggests a strongly bullish structure, with potential resistance at $420 and support at $250.