Bitcoin maximalist and JAN3 head Samson Mow has publicly challenged the sustainability of Zcash's current parabolic rally. Commenting on the $ZEC/USDT chart, where the coin corrected to $1,300 after recently surging to a peak near $1,600, Mow focused on the asset's year-to-date performance.
He said the privacy coin's market capitalization had been artificially inflated and that the market faced an inevitable return to the mean.
What Bitcoin maximalists think is wrong with Zcash
In Mow's view, there simply isn't enough speculative capital in the market to keep Zcash among the top 10 cryptocurrencies at a valuation above $22 billion after its rise of more than 1,000% since the start of the year.
