While the rest of the crypto market has shown more signs of an intensifying bear market, Zcash (ZEC) is making major waves. Over the last 30 days, the privacy-focused coin has surged by around 60%, while Bitcoin (BTC) and Solana (SOL) have remained relatively quiet, each slipping by single digits in the same timeframe.
Nevertheless, Alex Cardichi, market expert from The Motley Fool, argues that Bitcoin, Solana and Zcash have several potential catalysts remaining this month that could trigger a fresh rebound rally.
Bitcoin Could Aim For $100K, Solana Prepares AlpenglowCardichi argues that a positive announcement, especially one that provides clearer details on the status of the reserve, could push Bitcoin back towards six-figure levels. Currently, the market’s leading cryptocurrency has fallen from $82,000 last week to $76,300.
From Cardichi’s perspective, the upgrade’s improvements aren’t only about performance for its own sake. He suggests that if Alpenglow delivers the results Solana developers expect, it could become a practical incentive for financial institutions looking to transition parts of their workflows onto blockchains.
Zcash After The ECC ExitDespite that upheaval, Zcash has since surged, rising about 127% over the last three months. Instead of proving fatal, Cardichi argues the disruption became the start of a new phase.
After the engineering team exited, they formed a new organization called Zodl and raised $25 million from firms including Andreessen Horowitz (a16z) and Winklevoss Capital in early March.
At the time of writing, Zcash was trading at around $533, having risen by almost 1,200% year-to-date. However, Cardichi suggests that a rally to the coin’s prior all-time high of $880 could be sparked by any catalyst arising from the new dev roadmap.
Featured image created with OpenArt, chart from TradingView.com
