BitMEX co-founder Arthur Hayes says his target for Zcash is 10% of Bitcoin’s price, arguing ZEC’s latest rally is early innings despite mounting pressure on privacy coins.

BitMEX co-founder Arthur Hayes has set an aggressive upside target for privacy coin Zcash, telling followers on X that his “target price for ZEC is 10% of the BTC price.” In the same post, Hayes added that the current uptrend “still has a lot of room for growth,” signaling he believes the recent move in ZEC is just the early phase of a larger cycle.

While Hayes did not publish a full valuation model alongside the remark, the 10% anchor implies a substantial potential upside relative to current market levels. If Bitcoin were trading at $90,000, for example, a 10% ZEC/BTC ratio would suggest a ZEC price near $9,000; at $70,000 BTC, it would point to about $7,000 per ZEC. For context, Zcash’s all‑time high in late 2016 briefly spiked above $3,000 on thin order books before settling into a range that has mostly been under $1,000 for years.

Hayes has long been known for making bold macro and altcoin calls, frequently using his personal X account and essays to lay out high‑conviction, high‑volatility trades. His latest ZEC comment fits that pattern, leaning into a narrative that privacy‑focused assets could see renewed demand if regulatory surveillance ramps up or if Bitcoin’s transparent ledger becomes a liability for certain users.

The timing is notable. Privacy coins like Zcash and Monero have faced delistings on several major centralized exchanges in recent years amid anti‑money‑laundering scrutiny, even as on‑chain usage has persisted in more niche venues. That regulatory overhang makes sustained institutional inflows into ZEC less likely in the near term, but it has not stopped sharp, speculative spikes whenever market sentiment swings back toward high‑beta plays.

Hayes’s 10% of BTC target is not a consensus view among analysts, and he did not specify a timeframe for when he expects ZEC to reach that level. But for traders who track his calls, the message is clear: in his view, the current ZEC move is far from exhausted, and the coin’s upside, relative to Bitcoin, remains significant if the right mix of narrative, liquidity, and risk appetite comes together.

Standard Chartered has been recognised with two major awards by The Banker, highlighting the growing importance of Islamic finance across global banking markets.

The international banking group was named “Islamic Bank of the Year” and also received the “Most Innovative Sukuk” award for its role in ADNOC’s debut international sukuk issuance.

The recognition reflects increasing momentum in the Islamic finance sector, which continues expanding across the Middle East, Asia, and Africa as demand grows for Shariah-compliant banking, investment, and capital market solutions.

According to industry projections referenced by the bank, global Islamic finance assets are expected to reach approximately $7.5 trillion by 2028, representing one of the fastest-growing segments in international finance.

Khurram Hilal, CEO of Islamic Banking at Standard Chartered, said the sector is evolving beyond domestic markets as affluent investors and institutions increasingly seek cross-border Islamic finance opportunities.

The bank stated that its Islamic finance platform supports a wide range of clients, including affluent individuals, corporations, and institutional investors, with services spanning wealth management, financing, liquidity solutions, and sukuk structuring.

Sukuk markets in particular have seen increasing institutional demand in recent years as governments, sovereign wealth funds, and major corporations across the Gulf region continue diversifying funding sources and attracting international investors.

The awards also underline the UAE’s broader ambition to strengthen its position as a leading global hub for Islamic finance and Shariah-compliant capital markets.

Narrow Legislative Window Raises Pressure

Ripple CEO Brad Garlinghouse said CLARITY Act urgency has increased as Congress faces a tight timeline. He pointed to a short window in the Senate that could decide the bill’s progress.

He stated that lawmakers must act within two weeks or risk delay. Election cycles often slow legislative work. As a result, CLARITY Act urgency now defines the current policy environment for digital assets.

Garlinghouse noted that the recent Senate movement offers some progress. However, he stressed that momentum may not hold. Political priorities could shift quickly and push the bill aside.

Regulatory Clarity Remains Central Issue

The proposed law aims to define how regulators oversee digital assets. Industry participants have long requested such clarity after years of mixed enforcement actions.

Garlinghouse highlighted that CLARITY Act urgency reflects broader industry concerns. Companies operating in the United States still face unclear regulatory boundaries. This uncertainty affects compliance planning and investment decisions.

Ripple and similar firms continue to allocate resources toward legal strategy. Without clear rules, firms must adjust to evolving interpretations from multiple agencies. CLARITY Act urgency underscores the need for consistent guidelines.

Market Attention and Potential Impact

Market participants have started to monitor the bill closely. Some analysts link future price movements of major tokens to regulatory developments tied to the legislation.

In that context, CLARITY Act urgency has entered broader market discussions. Investors view potential passage as a factor that could support institutional adoption. However, these expectations remain conditional.

Garlinghouse also warned that delays could extend uncertainty. If the bill stalls, companies may continue to face fragmented oversight. This situation could maintain volatility tied to regulatory headlines.

The current outlook remains uncertain. CLARITY Act urgency highlights both opportunity and risk. While progress exists, the timeline leaves limited room for delay.

Ripple ($XRP) CEO Brad Garlinghouse just issued a stark warning on the CLARITY Act: if the Senate Banking Committee markup slips in the next two weeks, the bill’s chances fall ‘precipitously.’ pic.twitter.com/0WA1tTBgsG

— Wizzy (@WizzyOnChain) May 6, 2026

Bitcoin Cash (BCH) continued its strong recovery on Wednesday, climbing above $489 and extending weekly gains beyond 8% as bullish positioning across the derivatives market reinforced the ongoing rally.

The broader crypto market backdrop remains supportive, with Bitcoin (BTC) holding near the $82,000 level, while technical indicators suggest BCH could be preparing for a breakout above the psychological $500 barrier.

Bullish derivatives activity strengthens BCH outlook

According to CoinGlass data, Bitcoin Cash futures Open Interest (OI) jumped to $683.83 million on Wednesday from roughly $642 million recorded on Sunday.

The increase in Open Interest signals fresh capital entering the market, typically reflecting growing trader participation and stronger buying activity that could further support BCH’s upward momentum.

Additional derivatives data also point to strengthening bullish sentiment. CoinGlass shows BCH’s long-to-short ratio rising to 1.25 on Wednesday, marking its highest level in more than a month. A ratio above one indicates that a larger share of traders are positioning for additional upside.

Meanwhile, CryptoQuant data presents a largely constructive outlook for Bitcoin Cash despite some mixed signals. The platform’s summary metrics highlight increased whale activity across spot and futures markets alongside cooling market conditions, both of which historically support upside continuation.

However, persistent sell-side dominance in the spot market could limit the pace of the rally and create short-term volatility near key resistance levels.

Technical outlook: BCH bulls target rally above $500

Bitcoin Cash trades near $489.60 after breaking above several important technical levels. The token now holds comfortably above the 50-day Exponential Moving Average (EMA) at $457.91 and the 100-day EMA at $478.47, reinforcing the bullish structure following the breakout above a former descending trendline near $449.56.

Momentum indicators continue to favor buyers. The Relative Strength Index (RSI) on the 4-hour chart has climbed toward 70, approaching overbought territory but still signaling strong bullish momentum.

At the same time, the Moving Average Convergence Divergence (MACD) remains firmly in positive territory and continues to expand, suggesting buying pressure remains dominant.

On the upside, immediate resistance is located near the 200-day EMA at $497.05. A decisive daily close above that level could open the door for a push toward the 38.2% Fibonacci retracement level at $515.06.

Beyond that, bulls may target the 50% retracement near $544.56, followed by the 61.8% Fibonacci level around $574.07 if momentum accelerates.

On the downside, immediate support sits near the confluence zone between $478.47 and $478.55, where the 100-day EMA aligns with the 23.6% Fibonacci retracement level.

Additional support is found at the 50-day EMA near $457.91, while the former breakout trendline around $449.56 could attract renewed dip-buying interest during deeper pullbacks.

Ethereum accumulation addresses witnessed a surge in daily inflows on Wednesday, suggesting growing confidence in Ether’s (ETH) long-term price trajectory following its latest rise to $2,400.

Key takeaways:

• Accumulation addresses absorbed about $592 million in ETH on Wednesday, signalling aggressive long-term buying.
• Ether’s ascending triangle projects an ETH price rally to $3,315.

Ethereum accumulators add $592 million in ETH

Ether’s investor confidence has returned following its 39% recovery from a multi-year low below $1,750.

Data from CryptoQuant showed daily inflows into accumulation addresses have increased steadily since mid-2025, reaching an all-time high of 1.14 million ETH in November 2025. The inflows have continued to climb in 2026, averaging 200,000 ETH per day.

These addresses received 246,620 ETH on Tuesday, worth approximately $592 million at current rates.

ETH inflows into accumulation addresses. Source: CryptoQuant

Accumulation addresses are wallets that continuously receive ETH without making any outgoing transactions. They may belong to long-term holders, institutional investors, or entities strategically accumulating Ethereum rather than actively trading it.

As a result, the total ETH held by these long-term holders reached a record 25 million ETH, marking a 20.36% jump so far in 2026. 

Large spikes in inflows to these addresses often signal strong confidence in Ether’s long-term potential, with past trends showing that such surges frequently precede price rallies.

For example, on June 22, 2025, Ethereum accumulation addresses recorded a daily inflow of over 380,000 ETH. Nearly 30 days later, ETH’s price rose by almost 85%. A similar price rally followed November 2025’s inflow spike into the accumulation addresses.

Whale wallets are also showing bullish signals. The chart below shows that whale wallets with a balance of 10,000-100,000 ETH have seen their holdings rise to an all-time high of over 19.5 million tokens, after rapid accumulation over the last 30 days.

Wallets with over 100,000 ETH have also increased their holdings to 4.7 million ETH, a 30% increase in 2026. 

Ethereum: Balance by holder value

As Cointelegraph reported, Ether’s spot taker cumulative volume delta, which has been increasing since early April, also suggested growing confidence among buyers.

How high can the ETH price go?

Ether’s liquidation heatmap shows the price eating away liquidity around $2,400, with large bid orders still sitting at $3,000, and between $3,350 and 3,500.

“If $ETH breaks through $2,500, a steady rise to $3,000 will follow,” crypto analyst CW8900 said in a Wednesday post on X, adding:

“There is almost no resistance for short positions.”

ETH liquidation heatmap. Source: CoinGlass

From a technical perspective, the ETH/USD pair is seeking to break above the horizontal trend line of an ascending triangle at $2,400.

A daily candlestick close above the 200-day exponential moving average at $2,700 will confirm the continuation of the uptrend toward the measured target of the triangle at $3,315. Such a move would bring the total gains to 40%.

ETH/USD daily chart. Source: Cointelegraph/TradingView

Technical analyst XForceGlobal shared a chart suggesting that Ether’s macro bottom could be in, with an Elliott Wave analysis projecting a rally to $3,500 once resistance at $2,600-$2,700 is broken.

ETH/USD daily chart. Source: XForceGlobal

As Cointelegraph reported, a close above the $2,600-$2,700 region would confirm a trend change, paving the way for the ETH/USD pair to rally toward $3,000.

This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.

Bermuda is aiming to show an example how to move crypto into everyday commerce without breaking the financial system, Premier David Burt said onstage at Consensus Miami 2026 on Wednesday.

Burt said the tiny island on the Atlantic is expanding its “onchain economy” initiative, a push to get stablecoins into the hands of residents, merchants and local businesses. The project was first announced in January at the World Economic Forum, with stablecoin issuer Circle (CRCL) and exchange Coinbase (COIN).

The government plans another airdrop of USDC stablecoin this year, tied to next week’s Bermuda Digital Finance Forum 2026, while also onboarding merchants that can accept digital payments. Participants will receive stablecoins through wallets and can spend them with local vendors, Burt said.

“If you are a vendor and you’re accepting digital assets, but you do not have a way to use and spend those digital assets inside your economy, that presents a problem,” Burt said.

The broader goal for Bermuda is to build payment infrastructure outside traditional card networks and banking rails, he said, arguing that small businesses face high transaction fees and limited access to financial apps common in larger markets.

Coinbase Chief Legal Officer Paul Grewal, who joined Burt on stage, said Bermuda’s approach stands out because regulators and private firms are building in tandem instead of working separately.

“What’s most interesting about the Bermuda example is it is a parallel process,” Grewal said. “Government services can be accessed using payment stablecoins, while merchants and businesses are brought into the system at the same time.”

Bermuda, Burt said, has spent years building a digital asset framework through its Digital Asset Business Act. He described the island’s regulatory style as iterative and industry-facing, with the Bermuda Monetary Authority working directly with firms on issues such as staking, lending and DeFi supervision.

“You cannot regulate out failure,” Burt said. “But you can put in place the items which allow responsible innovation to happen.”

Grewal also contrasted Bermuda’s approach with the regulatory climate crypto firms faced in the U.S. over the past several years under former Securities and Exchange Commission (SEC) Chair Gary Gensler. That has changed for the better under the Trump administration, he argued.

“It is a new day here in the United States,” Grewal said, pointing to what he described as a more constructive tone from agencies under SEC Chair Paul Atkins and Commodity Futures Trading Commission (CFTC) Chair Michael Selig.

“We still have challenges, to be clear, but it’s a very different dynamic,” he said.