Grayscale suggests that Zcash (ZEC) could see significant upside as AI surveillance increases the value of financial privacy, a factor currently underappreciated by the market. Analyst Michael Zhao notes that Zcash, a privacy-focused cryptocurrency using zero-knowledge proofs, is gaining traction with increased use of its shielding technology and new capital inflows supporting its ecosystem. Zcash has experienced volatile price movements, notably surging to nearly $700 in late 2025 before a sharp decline. Grayscale highlights that Zcash's market share of 0.3% in the $1.6 trillion crypto segment reflects a marginal view of privacy, which could change as demand for confidential transactions grows. Despite potential regulatory and technological risks, Zcash's design positions it as a digital cash analogue, potentially benefiting from a shift towards privacy in the AI era. ZEC was trading 5% higher at $224.80 at the time of reporting.