Can Zcash Really Follow Bitcoin? This Model Puts ZEC to the Test

ZEC’s most recent surge, which got it close to $1,300, has managed to revive considerable comparisons between it and Bitcoin – in particular because both of them have a maximum supply of 21 million coins.

However, prominent analyst filbfilb argues that matching circulating supply alone says very little about valuation. He has developed a series of models that attempt to better quantify how much of Bitcoin’s network value Zcash has actually managed to earn.

The analyst compared ZEC with Bitcoin using metrics such as transaction activity, transferred value, circulating supply, as well as potential future convergence between both networks.

Current Activity Suggests Bullish Biases May Be Overblown

Zcash currently has slightly less than 17 million coins in circulation, which approximately matches an earlier stage in Bitcoin’s issuance history.

But instead of simply applying Bitcoin’s valuation at that particular point to ZEC, filbfilb adjusted it based on relative network usage.