# The Real Reason Zcash (ZEC) Is Pumping ## Метаданные - **Канал:** Coin Bureau - **YouTube:** https://www.youtube.com/watch?v=KCF268guYPc - **Дата:** 11.05.2026 - **Длительность:** 15:06 - **Просмотры:** 9,989 - **Источник:** https://ekstraktznaniy.ru/video/50598 ## Описание Zcash just exploded past $600 after Multicoin Capital went public with its ZEC accumulation, causing a $62M short squeeze and a sudden flippening against Monero. But is this more than just a rally? In this video, Louis unpacks why institutional players are loading up on ZEC, how regulatory shifts, new privacy features, and quantum-resistant tech are kicking privacy coins back into the spotlight, and breaks down the hard risks that everyone else is missing. ~~~~~ 🛒 Get The Hottest Crypto Deals 👉 https://www.coinbureau.com/deals/ ♣️ Join The Coin Bureau Club 👉 https://hub.coinbureau.com/ 📱 Coin Bureau Telegram 👉 https://go.coinbureau.com/yt-telegram 💥 Coin Bureau Discord 👉 https://go.coinbureau.com/cb-discord 📲 Insider Info in our Socials 👉 https://www.coinbureau.com/socials/ 🔥 TOP Crypto TIPS In our Newsletter 👉 https://www.coinbureau.com/newsletters/ 💸 Coin Bureau Finance Channel 👉 https://www.youtube.com/@CoinBureauFinance ⭐ More Coin Bureau Channel 👉 https://www.youtube.com/ ## Транскрипт ### Zcash Explodes: Why ZEC Suddenly Pumped 1,200% [] On May 5th, one of the most respected cryptonative funds in the world quietly admitted what almost nobody on financial Twitter wanted to hear. Multicoin Capital had been accumulating Zcash since February. And within 72 hours of that disclosure, ZEC tore through $600 for the first time in nearly a decade, triggered roughly $62 million in short liquidations, and briefly flipped Monero to become the largest privacy coin on the market. The chart now reads plus 56% in 30 days, plus 144% in 90 days, and plus 1,255% over the past year against Bitcoin that is down 22% on the same window. But the truly extraordinary part is not the price. It is what Tousar Jane actually said at Consensus Miami when he was asked why a fund of multicoin stature was rotating into a coin the entire industry had written off as legally radioactive. His answer reframes Bitcoin itself. So today, we'll walk through who is actually buying ZEC and why their thesis matters, dismantle the contrarian argument that Bitcoin's transparent ledger is its single biggest long-term liability, and lay out the specific risks and catalysts that decide whether this rally is the start of something structural or just the loudest short squeeze of the cycle. My name is Lewis and you're watching the Coin Bureau. Now, before we get into the thesis, you need a quick map of how we got here because this rally is not happening in a vacuum. The setup began in November of 2025 when Gayscale filed an S3 to convert its existing Zcash trust into a spot ZEC ETF on NYSE ARCA. In January 2026, the SEC quietly closed its lengthy review of the Zcash Foundation with no enforcement action, removing the single biggest regulatory overhang the asset had carried for years. In April, Gayscale filed an amended S3. Robin Hood listed ZEC to over 27 million funded accounts and Thor Chain enabled native crosschain swaps. And then on May 5th, multicoin disclosed, which brings us ### Smart Money Thesis: Why Institutions Are Buying ZEC Now [2:16] directly to the question that actually matters. Why is the smart money rotating now? Tar Jane framed it in a single sentence that I want you to sit with for just a moment. He said, quote, "Bitcoin is censorship resistant. No one can freeze your BTC. " But that doesn't stop the state from seizing known holdings through wealth taxes. Right? That is not a cipher punk slogan. That is a fund manager describing the precise mechanism by which a transparent ledger becomes a liability the moment finance moves onchain. Multicoin's position is significant accumulated since February and is being framed as the cleanest public market expression of a thesis around private censorship resistance and seizure resistant money. And Arthur Hayes is on the same trade too. Maelstrom now holds ZEC as its second largest liquid position behind Bitcoin with Hayes publicly modeling a long-term capture of 10 to 20% of Bitcoin's market cap which would imply a price somewhere between $8,000 and $10,000 per coin and the onchain data is corroborating the institutional thesis in real time. The shielded supply, which is the percentage of all ZEC held in private addresses, just hit an all-time high of over 30% of circulating supply. For context, that number was 8% in early 2024 and 11% in early 2025. And critically, in Q1 of this year, net inflows into Zcash's shielded pools outpaced new mining issuance by approximately 76%. Put simply, holders are not just buying ZEC. They are migrating it into privacy faster than miners can produce new coins. That is not retail FOMO. That is structural conviction. Right folks, a quick interlude because I think you're going to want to know this as well. 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Why is privacy ### Privacy Is Back: Regulation, Stablecoins & CBDCs Explained [5:11] back on the menu after two years of being declared dead? You might assume that the privacy coin sector was killed by regulation in 2024 that 73 exchanges delisted privacy assets in 2025 that Mika in Europe and FATF travel rule guidance globally had effectively ended the conversation and that any rally now is just speculative noise. However, that assumption ignores the four catalysts that have quietly inverted the narrative across the past 18 months. First, the Genius Act signed in July of 2025 mandates that stable coin issuers possess the technical capability to seize, freeze, or burn user assets upon lawful order. Second, Tether alone froze approximately $1. 26 billion across 4,163 addresses in 2025, followed by $182 million in January and $344 million in April of this year. all in coordinated DOJ and FBI actions. Third is that the European Central Bank has accelerated the digital euro to a potential 2029 rollout, while China's ECNY has already deployed 2. 25 billion wallets. And 58% of European citizens told a March 2025 survey they are unlikely to ever use a CBDC for everyday payments. And fourth, US exchanges are now required to report transactions to the IRS via form 1099DA starting this year. Meaning every transparent crypto holding you own is now structurally visible to the tax authorities. The commulative effect is a cultural shift the industry took too long to price in. Stable coins are no longer perceived as digital cash. They are database entries with a kill switch. And once the audience absorbs that, the demand for assets that are mathematically shielded from oversight, stops being a fringe concern and starts becoming a portfolio allocation question. Which brings us to the contrarian core of this entire video. Bitcoin was always designed as pseudo anonymous, not anonymous. That ### Bitcoin’s Hidden Flaw? The Surveillance Problem [7:20] distinction was technically accurate from day one and has been quietly weaponized by an entire industrial complex of chain analysis firms. Chain analysis is now valued at over8 billion, maintains a database of more than 5 billion address clusters, and claims up to 94. 85% accuracy in identifying illicit service activity. Add Elliptic, TRM Labs, and Arkham Intelligence to the picture, and you have a multi-billion dollar surveillance layer sitting on top of a ledger that records every transaction permanently. The mechanism is simple. The moment you interact with a KYC compliant exchange, your real world identity is permanently tethered to your address cluster and every historical transaction linked to that cluster becomes legible to a state actor with a subpoena. And of course, we should absolutely trust that the same government's currently freezing stable coin balances and proposing wealth taxes on unrealized digital asset gains will exercise restraint when those same tools are pointed at Bitcoin holders. Right. Edward Snowden has spent the better part of 2 years warning that privacy must be a default, not an add-on that regulators can criminalized through coin join enforcement actions and developer prosecutions. Jameson Lop documented a 169% jump in physical wrench attacks against crypto holders in 2025 with over 225 documented cases, a direct downstream consequence of KYC data leaks combined with public address records. Now look, none of this means that Bitcoin is broken. It means transparent ledgers create an attack surface that compounds over time and multicoin's argument is that the market has finally started pricing that asymmetry into Zcash. And then there's the quantum wild card. In December 2024, Google unveiled ### Quantum Threat: Could Bitcoin Be Broken by 2030? [9:11] the Willow chip with 105 physical cubits and demonstrated below threshold error correction, which solved a 30-year scaling problem in quantum computing. In April of this year, Google research suggested that breaking 256-bit elliptic curve cryptography may require fewer than 500,000 physical cubits, a 20-fold reduction from previous estimates. A 110page Project 11 analysis released in May now projects Qday arriving somewhere between 2030 and 2033. Approximately 25% of all Bitcoin sits in legacy P2PK addresses or reused address types where the public key is permanently exposed on the blockchain. That is roughly 6. 65 to 6. 9 million BTC including a significant portion of the coins attributed to Satoshi himself. Once the quantum computer crosses the cryptographic threshold, those addresses become extractable and the governance challenge of upgrading Bitcoin to postquantum signatures through a contested hard fork is frankly an unsolved political problem. Now compare that to Zcash's road map as laid out by Josh Swart at Consensus Miami. Quantum recoverable wallets ship in June. The Techon upgrade introducing protocol level postquantum privacy ships late 2026. Full postquantum readiness is targeted for 2027. Zcash's Halo 2 proving system was deliberately designed for cryptographic agility, meaning Lattisbased primitives can be swapped in without rebuilding the entire protocol from scratch. That is the asymmetry bet institutions are starting to price in. If Qday arrives on the aggressive end of the range, Bitcoin faces catastrophic exposure with no agreed migration path. If QA stays distant, Zcash holders own a free option on top of the existing privacy premium. Now look, this is not a shill piece. And the bare case here is real. The single biggest risk is the EU. Under the anti-moneylaundering regulation operating alongside Mika, every licensed European crypto asset service provider must delist anonymity enhancing coins by July 1st of 2027. Coinbase, Bit Panda, Bit Vavo, OKX, all of them have a hard deadline. The second risk is organizational. In January, the entire engineering staff of the Electric Coin Company, the original developer of Zcash since 2016, resigned in Mass, signing constructive discharge by the Bootstrap Board. They formed a new entity called the Zcash Open Development Lab, raised approximately $25 million in seed funding, and shipped an emergency zebra patch in April that closed five critical vulnerabilities, three of which could have triggered a chain split. The protocol survived without the founding team, but execution risk on the postquantum road map just got materially harder. The third risk is technical. ZEC's RSI is 79. 7. The price is trading 73% its 50-day moving average and roughly $62 million of the May surge was mechanically driven by trapped shorts being liquidated, not organic spot buying. Pull those liquidations out and the rally looks thinner. Now, here's the part most coverage misses entirely. This is not really a Zcash story. It is a ### Zcash vs Regulation: Risks, ETF Catalyst & What Happens Next [12:36] stress test of a thesis that the entire crypto industry has spent 5 years actively suppressing. And that thesis is simple. Censorship resistance at the protocol level is necessary, but it's not sufficient. A ledger that cannot freeze you can still betray you. A wallet that cannot be seized can still be taxed, surveiled, and frontrun by a state apparatus that already owns the surveillance infrastructure and is now writing legislation to mandate its use. The structural insight is that as more of finance migrates onchain, the value of being private onchain compounds while the cost of being transparent onchain becomes increasingly loadbearing on every wealth decision that you make. Multicoin is not betting that ZEC flips Bitcoin. They are betting that a meaningful percentage of capital eventually demands an asset that cannot be wealth taxed, cannot be retroactively deanonymized by improving chain analysis heruristics and cannot be cracked open by a cryptographically relevant quantum computer in 2032. That is the asymmetric trade and the smart money has now publicly committed for you. The practical implications are specific. Watch the Grayscale ZCSH ETF decision. Watch whether shielded supply continues climbing past 30%. Watch the quantum recoverable wallet launch in June and watch whether multicoin adds to its position or rotates out. Any two of those signals confirming the same direction is the trade. So here is the question worth thinking carefully about before you close this video. Will Zcash's 2026 rally turn out to be the start of a structural rotation into mathematically private assets that reshapes the next cycle entirely? Or will EU regulation, the loss of the founding development team and overbought technicals collapse this thesis back into the same D-listing graveyard the rest of the privacy sector still occupies? Please get genuinely opinionated in the comments down below because this is the debate that decides what the next decade of crypto actually rewards. And if you want to understand exactly how the Grayscale Spot ETF approval pipeline has historically moved underlying asset prices in the 90 days before and after a decision, well, you can check out our video on that right over here. Thank you all so much for watching and I'll see you again very soon. This is Lewis signing off.