Zcash (ZEC), the top privacy-focused cryptocurrency, has seen an incredible surge this year—up more than 1,200% year-to-date, far outpacing major coins. In contrast, Cardano (ADA) has taken a very different path, dropping about 66% over the same period. The gap has become so wide that Zcash briefly overtook Cardano in market cap, becoming the 11th-largest cryptocurrency on May 10. This turning point has led at least one market expert to suggest ZEC could eventually flip ADA in that key ranking.
Why Zcash Is Catching Investors’ Attention
Market expert Alex Carchidi highlighted several reasons in a new report, pointing to major accumulation as a key trend. For example, Multicoin Capital revealed in early May that it has been building a large position in Zcash since February. And it’s not just one firm—Cypherpunk Technologies has also added 295,000 Zcash tokens, which is about 1.7% of the coin’s total circulating supply.
Carchidi noted that the network’s privacy usage seems to be rising along with the price. Around 30% of Zcash’s circulating supply is now held in shielded addresses. These addresses use special cryptography to hide transaction details, protecting user privacy—something standard public blockchains don’t offer in the same way. Importantly, this share has nearly quadrupled over the past two years, a trend Carchidi says strongly suggests that adoption and usage are growing alongside ZEC’s market momentum.
Cardano Lacks a Clear Path to a Breakout
At the same time, the expert argues that the comparison with Cardano is different in almost every way except market cap. Carchidi pointed out that Cardano is built as a smart-contract blockchain, designed to compete in decentralized finance (DeFi), but its traction has been relatively limited. As of May 12, Cardano reportedly had only about $137 million in total value locked (TVL), placing it 26th among all blockchains. That figure also marks a notable drop from roughly $410 million a year earlier.
Carchidi sees Cardano as stuck in what he calls an “awkward valley.” He argues it’s too slow and relatively expensive to compete effectively with high-speed, high-throughput chains like Solana (SOL). At the same time, even though Cardano is cheaper than Ethereum (ETH)—the blockchain it was originally created to beat—it’s still a bit slower and doesn’t have nearly the same ecosystem size.
From this perspective, the expert sees the market’s behavior as reflecting a widening gap in the stories investors believe in. According to Carchidi, institutional capital tends to favor narratives that hold up under scrutiny. He says Zcash has such a story, while Cardano’s story has mostly been “wait for better times” for the past several years—without enough clarity on how those better times will come from what developers are building right now.
What Could Drive ADA Higher?
Carchidi suggested that a potential approval for a spot Cardano exchange-traded fund (ETF) in the second half of 2026 might be the clearest near-term reason to hold. Even so, he doubts investors would be eager to hold Cardano through an ETF if there isn’t a strong investment case supporting purchases at current prices.
Ultimately, Carchidi’s conclusion is straightforward. He argues that, given the lack of clear catalysts and uncertainty about what would drive a recovery, it may make sense to sell Cardano. Zcash, on the other hand, could be attractive if a portfolio needs exposure to privacy coins or scarce stores of value. At the time of writing, ZEC was trading at around $545, having gained an additional 63% in just two weeks.During the same period, ADA rose by 9%, trading at about $0.27. Featured image created with OpenArt, chart from TradingView.com.
Frequently Asked Questions
Here is a list of FAQs about Zcashs recent 1200 surge and the expert prediction that ZEC could surpass Cardano in growth
BeginnerLevel Questions
Q What is Zcash
A Zcash is a cryptocurrency focused on privacy Unlike Bitcoin where all transactions are public Zcash lets you shield transactions so the amount sender and receiver stay hidden
Q Why did Zcash just surge 1200
A The jump is mostly due to speculation Hype around privacy coins a new technical upgrade and a major exchange listing all hit at the same time causing a massive price spike
Q What does surpass Cardano in growth mean
A It means that one expert believes the percentage increase in Zcashs price will be bigger than Cardanos It doesnt mean ZEC will be worth more per coinjust that it could rise faster
Q Is it too late to buy Zcash after such a big jump
A Possibly A 1200 surge often means some people who bought early are now selling for profit Its very risky to buy right after a huge spike Do your own research first
IntermediateLevel Questions
Q How is Zcash different from other privacy coins like Monero
A The main difference is choice Zcash lets you choose between transparent and shielded transactions Monero makes all transactions private by default Zcash also uses a different privacy technology called zkSNARKs
Q What is the expert prediction based on
A The expert likely points to Zcashs upcoming network upgrade increasing regulatory interest in private transactions and ZECs relatively small market cap compared to Cardano meaning it has more room to grow percentagewise
Q Could Zcash really overtake Cardanos market cap
A Not likely in dollar value Cardano is a much larger project with a bigger ecosystem The prediction is about growth rate not total size ZEC could go up 200 while ADA goes up 50 but ADA would still be worth more overall