Zcash (ZEC) has gained over 100% in recent weeks, reigniting discussions about the cryptocurrency's price trajectory. Eli Ben-Sasson, co-founder of the project, has renewed attention to his earlier price prediction in a recent social media post, stating he expects ZEC to reach $5,000 by year-end.
Ben-Sasson acknowledged that he does not have a precise explanation for the recent surge, noting that he has observed increased whale interest in the asset. He clarified that his $5,000 outlook reflects a broader view of Zcash's potential rather than a specific short-term trading model.
The co-founder's previous prediction also proved notable. He had anticipated ZEC would exceed $1,200 by September 25, a level the token surpassed during its recent rally. ZEC briefly traded above $1,600 before retracing some gains.
At the time of reporting, ZEC traded at $1,547, up approximately 1% over the prior 24 hours, with a 30-day return of 102%. The token reached a 24-hour high of $1,621.
Institutional interest has emerged as a key driver of market momentum. Grayscale's Zcash ETF (ZCSH), launched recently, accumulated over $1 billion in assets under management within roughly one month, reflecting growing demand for ZEC exposure through traditional investment products.
While the $5,000 forecast has attracted investor attention amid bullish sentiment, the prediction remains Ben-Sasson's outlook and is not guaranteed.
