Grayscale: Zcash still has room to further expand its market share, and demand for privacy technology will continue to grow.

BlockBeats news, September 30 — Grayscale research director Zach Pandl wrote that over the past year, the price of ZEC has risen from about $60 to about $1,500, but Grayscale believes it has not yet reached its valuation ceiling. This increase reflects Zcash's previously low valuation starting point and its large potential market size.

Data shows that a year ago, ZEC's market capitalization was less than 0.1% of BTC's, and it has now risen to about 1.5%. Grayscale believes that although this change is notable, it is not extreme within the digital currency sector. Currently, XRP's market capitalization is about 6% of BTC's; in the 2017 to 2018 cycle, the market capitalizations of XRP, BCH, LTC, and DASH all reached at least 3% of BTC's.

Grayscale expects that market demand for privacy-preserving technology will continue to grow. If Zcash can continue to provide better privacy features than other cryptocurrencies, it still has room to further expand its market share.