Tyler Winklevoss Compares Zcash Rally to Crypto’s 2019 Recovery
Gemini co-founder Tyler Winklevoss has compared the renewed enthusiasm surrounding Zcash with the mood that emerged across the cryptocurrency market during its recovery from the 2018 bear market.
Winklevoss said the sentiment around Zcash resembles the period in 2019 when confidence began returning to the crypto industry after the sharp downturn that followed Bitcoin’s 2017 rally. According to Winklevoss, His comparison comes as Zcash has posted substantial gains in 2026 and Gemini has expanded its infrastructure and product support for the privacy-focused network.
Bitcoin began 2019 near $3,693 after spending much of the previous year under pressure. Historical data shows the cryptocurrency later approached $13,000 in late June before giving back part of those gains and ending 2019 at roughly $7,195. According to CoinGecko’s historical data, The recovery unfolded alongside efforts by industry companies to develop institutional trading, custody and other infrastructure, even as market conditions remained uneven.
Winklevoss’s comparison points to similarities in market sentiment rather than confirming that Zcash will follow Bitcoin’s 2019 price path.
Zcash Rally Revives Interest in Privacy Cryptocurrency
Zcash, which launched in 2016, has experienced a significant resurgence in market attention this year. Unlike a newly launched cryptocurrency, the renewed interest represents a revival around an established privacy network.
The network uses zero-knowledge proof technology to enable transaction verification while allowing users to shield sensitive financial information. Privacy-focused cryptocurrencies, however, have faced regulatory and market challenges, including exchange removals associated with concerns over transaction-shielding capabilities.
ZEC entered 2026 near $511 before experiencing significant volatility. The token fell about 27% in February, reaching levels around $191, before recovering more than 60% in May. ZEC climbed above $680 during that month before ending May near $565.
The advance accelerated later in the year. Zcash gained approximately 85% in August, rising from around $457 to roughly $848. In September, the token moved above $1,000 before reaching $1,335.51 on September 16.
The moves have helped bring renewed attention to a cryptocurrency whose privacy features have remained central to its identity.
Gemini Expands Its Zcash Infrastructure
Gemini’s involvement with Zcash dates back to 2018, when New York regulators approved the exchange for Zcash trading and custody services. The approval made Gemini the first licensed exchange to offer those services for the cryptocurrency.
The exchange has subsequently added further Zcash-related capabilities. Gemini introduced Unified Address support in August 2025 and added compatibility with the Orchard privacy protocol three months later.
On January 27, Gemini launched a dedicated Zcash credit card, extending its Zcash-related products beyond trading and custody.
The exchange announced another infrastructure development on September 29, saying its systems for interacting with the Zcash blockchain now operate on Zakura, an open-source full node.
Those developments provide additional context for Winklevoss’s comparison between Zcash’s current market enthusiasm and the broader crypto recovery seen in 2019. While the market sentiment may share some characteristics, the available comparison does not establish that Zcash will replicate Bitcoin’s historical performance.
Writer: Marcus RenfieldCrypto Market Analyst & Onchain WriterMarcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.