Zcash (CRYPTO: ZEC) is up 780% year-over-year, with Arthur Hayes betting big on privacy coins becoming 2026’s dominant narrative, all the while established altcoins Solana (CRYPTO: SOL) and Cardano (CRYPTO: ADA) underperform.
Hayes’ Privacy Bet
The former BitMEX CEO said in his latest essay that his fund, Maelstrom, went heavily long ZEC after accumulating positions in Q3 2025, wagering that privacy will emerge as crypto’s dominant narrative this year.
“This year’s dominant narrative will surround privacy. ZEC will become the privacy beta,” Hayes wrote in his latest essay.
“To obtain outperformance versus Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), I will sell BTC to fund privacy positions,” he added.
Hayes isn’t alone. Privacy coins are getting attention as governments ramp up surveillance and crypto users demand anonymity.
ZEC, which masks transaction details unlike transparent blockchains, is positioned as the leader.
The setup is simple: if Hayes is right about fiat credit expansion driving risk assets higher, privacy coins should outperform because they’re smaller, more volatile, and riding a fresh narrative.
Why SOL And ADA Are Stuck
SOL Technical Analysis By TradingView
While ZEC rips, Solana and Cardano are going nowhere fast.
Solana is sitting 45% below its October peak near $250.
The chart shows SOL stuck below the Supertrend indicator at $141.82 and unable to break the 100 and 200 EMAs.
A descending resistance zone continues capping rallies.
SOL needs to break above $142-$150 with volume to signal any trend change.
ADA Price Dynamics By TradingView
ADA is sitting 57% below September’s high of $0.95.
The token remains trapped in a descending channel and trades below major EMAs, reinforcing strong bearish momentum.
ADA bounced off support near $0.38 but needs to break above $0.42-$0.45 and reclaim the 50 EMA to even hint at a reversal.
Chart Shows ZEC Coiling For Breakout
ZEC Price Action By TradingView
ZEC is trapped in a massive symmetrical triangle since November.
The token surged 145% from $302 to $742 in just two weeks before entering this two-month consolidation.
The triangle’s apex is approaching fast, with resolution expected within 7-10 days based on converging trendlines.
This is a classic coil pattern that precedes explosive moves.
ZEC is trading between the 0.382 Fibonacci at $476 and 0.5 level at $522, with all major EMAs compressing tightly.
The 20 EMA sits at $483, 50 EMA at $453, 100 EMA at $387, and 200 EMA at $283.
This compression combined with decreasing volatility sets up a powder keg.
Upside Targets: Breaking triangle resistance at $550-$570 targets $600 initially, then $620 (0.618 Fib). Clearing $650 opens the path toward retesting $742, with extension targets at $800-$850.
Downside Risks: Triangle support at $476 is critical. Breaking this targets $406, then $387 (100 EMA). Loss of $350 collapses structure toward $302 base.
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Image: Shutterstock
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