bullish

Multicoin

Robinhood

Arthur

Zcash

Zcash (ZEC) has outperformed the broader crypto market over the past month, rising by over 125% compared to an average 15% gain for most coins.<img alt="Zcash price may hit $800 as $2.7B hedge fund reveals ‘significant position’ in ZEC" height="1674" src="https://payload.cointelegraph.com/api/media/file/ZECUSD_2026-05-06_14-27-41.png?prefix=media%2Fcontent" width="2770">ZEC/USD versus TOTAL crypto market cap 30-day performance chart. Source: <a href="https://www.tradingview.com/chart/2NZppa2e/?symbol=CRYPTO%3AZECUSD" rel="noopener noreferrer nofollow">TradingView</a>The privacy-focused cryptocurrency may rally further in the coming weeks as a mix of bullish technical and fundamental catalysts converges.Key takeaways:<ul class="list-bullet"><li class="">US crypto hedge fund Multicoin Capital revealed it has been buying ZEC since February.</li><li class="">Robinhood will list ZEC as Zcash's network activity has been booming in the past weeks.</li><li class="">ZEC technicals are painting a 40% rally setup.</li></ul><h2 id="multicoin-disclosure-boosts-zec-momentum">Multicoin disclosure boosts ZEC momentum</h2>On Tuesday, Multicoin Capital, a US-based crypto hedge fund managing $2.687 billion in assets, revealed a "significant position" in ZEC, fueling speculation that institutional investors are warming up to privacy-focused digital assets again.Its co-founder, Tushar Jain, <a href="https://x.com/tushar_jain/status/2051719007393153060" rel="noopener noreferrer nofollow">revealed</a> that the firm had been accumulating ZEC since February.Jain described Zcash as “the most direct public market vehicle” for exposure to private, censorship-resistant and seizure-resistant money, framing the investment as a bet on rising demand for financial sovereignty and cypherpunk-style privacy tools.<img alt="Zcash price may hit $800 as $2.7B hedge fund reveals ‘significant position’ in ZEC" height="1552" src="https://payload.cointelegraph.com/api/media/file/Screenshot%202026-05-06%20at%2015.16.21.png?prefix=media%2Fcontent" width="1212">Source: XZEC has rallied by over 43% in the past 24 hours, showing that traders have interpreted the Multicoin announcement as institutional validation of the privacy coin narrative.<h2 id="zec-s-flag-breakout-hints-at-further-gains">ZEC's flag breakout hints at further gains</h2>From a technical perspective, Zcash has entered the breakout phase of a prevailing bull flag pattern on the weekly chart.A bull flag forms when the price consolidates lower within a descending parallel channel after a strong uptrend. It resolves when the price breaks above the channel's upper trendline and rises by as much as the previous uptrend's height.<img alt="Zcash price may hit $800 as $2.7B hedge fund reveals ‘significant position’ in ZEC" height="1674" src="https://payload.cointelegraph.com/api/media/file/ZECUSDT_2026-05-06_14-37-38.png?prefix=media%2Fcontent" width="2770">ZEC/USDT weekly chart. Source: TradingViewApplying that rule to ZEC’s chart puts its breakout target near $800. As of Wednesday, Zcash traded as high as $607, leaving the token on track to test the bull flag’s measured upside target located roughly 40% above.Zcash’s weekly relative strength index (RSI), a momentum indicator that measures whether an asset is overbought or oversold, also suggests the rally may continue.The RSI currently remains just below 70, a level traders typically associate with overheated market conditions, indicating ZEC may still have room to climb before buyers show signs of exhaustion.BitMEX Co-Founder Arthur Hayes <a href="https://x.com/CryptoHayes/status/2051953575644049748" rel="noopener noreferrer nofollow">said</a> ZEC's target is 10% of Bitcoin's market capitalization, a scenario that would imply a multi-trillion-dollar valuation for ZEC and prices potentially ranging between $8,000 and $10,000 per coin based on current supply levels.<img alt="Zcash price may hit $800 as $2.7B hedge fund reveals ‘significant position’ in ZEC" height="1156" src="https://payload.cointelegraph.com/api/media/file/Screenshot%202026-05-06%20at%2015.23.38.png?prefix=media%2Fcontent" width="1212">Source: X<h2 id="robinhood-listing-tightening-zec-supply-adds-tailwinds">Robinhood listing, tightening ZEC supply adds tailwinds</h2>Zcash’s breakout also has fundamental support.ZEC has rallied alongside the broader crypto market as <a href="https://cointelegraph.com/markets/bitcoin-bounces-around-80k-as-iran-strike-unsettles-crypto-risk-assets" rel="noopener noreferrer nofollow">US–Iran peace-deal</a> hopes improve risk appetite, mirroring <a href="https://cointelegraph.com/markets/zcash-us-iran-ceasefire-rally-30percent-gain-zec-price-bull-trap" rel="noopener noreferrer nofollow">patterns in early April</a>.Its <a href="https://x.com/RobinhoodApp/status/2047351319011221593" rel="noopener noreferrer nofollow">Robinhood listing</a> on April 23 added another tailwind by opening spot access to 25.9 million funded users, including those in stricter jurisdictions like New York.Meanwhile, more than 30% of circulating ZEC now sits in shielded addresses, according to data resource <a href="https://zechub.wiki/dashboard" rel="noopener noreferrer nofollow">ZecHub.WIKI</a>. This tightening supply shows a big jump in demand for private on-chain transactions over the past year.<img alt="Zcash price may hit $800 as $2.7B hedge fund reveals ‘significant position’ in ZEC" height="1282" src="https://payload.cointelegraph.com/api/media/file/Screenshot%202026-05-06%20at%2016.04.48.png?prefix=media%2Fcontent" width="2546">Zcash shielded supply weekly chart. Source: ZecHub.WIKI

Zcash price may hit $800 as $2.7B hedge fund reveals ‘significant position’ in ZEC

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