Zcash (ZEC) rose 6%, once again surpassing $500, following Tyler Winklevoss’s announcement of the creation of Cypherpunk Technologies, a new Digital Asset Treasury (DAT) focused on building a corporate treasury with ZEC. The firm has already acquired 203,775 ZEC, valued at around $100 million, and aims to expand its holdings to at least 5% of the total Zcash supply.
This new treasury emerged from the rebranding of Leap Therapeutics, backed by Winklevoss Capital with $58.9 million, and will operate under the ticker CYPH. The initiative is part of Winklevoss’s strategy to position ZEC as a privacy hedge against Bitcoin.
ZEC remains in a rally that began in September, gaining over 1,100% for the year, driven by growing interest in privacy-focused assets and a rotation into overlooked tokens. Additionally, Electric Coin Company and Gemini have enabled Zcash withdrawals to the Orchard shielded pool.
Source: https://coinmarketcap.com/currencies/zcash/
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