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The debate between the Bitcoin (BTC) and Zcash (ZEC) communities intensified on Sunday as the price of Zcash recovered to more than $700, after falling to a low of $598 on Saturday.
“The ‘Bitcoin only, everything else is a scam’ crowd will be really confused to try to understand what he is saying about Zcash,” the CEO of investment firm Bitwise, Hunter Horsley, he said in an X post, which ignited a storm of responses.
“No, we’re pretty comfortable calling this obviously coordinated pump and dump of a VC coin a scam,” Bit Paine. he said in response, reference Zcash’s 1,500% rally from October
Mert Mumtaz, CEO of remote procedure call (RPC) node provider Helius and a vocal supporter of Zcash, agrees with Horsely and characterized the Bitcoin community’s criticism of the privacy coin as conspiracy theories.
Zcash it hit eight-year highs in October and returned Monero (XMR) to become the number one privacy coin by market capitalization, boasting a market capitalization of over $11.2 billion at the time of this writing and revive the privacy conversation in the crypto industry.
Related: The truth behind the return of the privacy-focused Zcash protocol in 2025
Zcash Rally Revives Conversation Around Privacy As Industry Leaders Gather Around
Zcash is ranked as the 12th largest crypto by market capitalization, according to CoinMarketCap, close to entering the top 10 canceling the Cardano ADA network’s native token (ADA), which has a market capitalization of more than $17 billion at the time of writing.
In November, Arthur Hayes, founder of the crypto exchange BitMEX, said that Zcash is now the the second largest liquid investment held by Maelstromits family office, with BTC being the fund’s largest liquid asset.
Leap Therapeutics, a biotechnology company, rebranded to Cypherpunk Technologies, a Zcash treasury company, on Wednesday, with the backing of the Winklevoss Twins’ Winklevoss Capital, proving its shares rise more than 170% on the news.
The meteoric price rally has also revived conversations about it integrate privacy into the Bitcoin protocol through reactivation of a Bitcoin opcode known as OP_CAT, which can enable privacy and other advanced features natively in the Bitcoin protocol.
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