ZEC +10.72% Surge Attributed to Introduction of Privacy-Oriented Treasury
- Zcash (ZEC) surged 10.72% in 24 hours to $683.14, driven by Cypherpunk Technologies' $50M treasury acquiring 1.25% supply stake. - Winklevoss Capital's $58.88M private placement and institutional backing highlight Zcash's privacy-focused positioning as "encrypted bitcoin ." - Zcash's new Zashi Wallet swap feature and EU regulatory shifts boost demand for privacy-centric assets, while backtests show 30-day excess returns of +22.6% after large price surges. - Cypherpunk's plan to acquire 5% ZEC supply and
On November 15, 2025,
Cypherpunk Technologies, which was previously known as Leap Therapeutics, has made a significant investment in ZEC by creating a $50 million treasury. The company purchased 203,775 ZEC at an average cost of $245.37 per token, accounting for about 1.25% of the total ZEC supply. This initiative is supported by Winklevoss Capital, which led a $58.88 million private funding round in October, highlighting strong institutional confidence in Zcash as a privacy-oriented alternative to
Douglas E. Onsi, CEO of Cypherpunk Technologies, stated that the treasury strategy is designed to deliver sustained value to shareholders by supporting Zcash’s growth and development. The company is preparing for a Nasdaq listing under the ticker
Tyler Winklevoss, Gemini’s co-founder, praised Zcash’s distinctive advantages in a public post on X. He referred to Zcash as “encrypted bitcoin” or “digital cash,” emphasizing that its privacy capabilities complement Bitcoin’s transparency. Winklevoss suggested that Zcash could capture a notable portion of Bitcoin’s market cap, particularly as Bitcoin is projected to rise sharply in value over the coming five to ten years.
Zcash’s price has shown considerable volatility, surging from an October low to a high of $750 in early November before settling near $420. The latest rally points to increasing investor interest in privacy-centric cryptocurrencies and the growing adoption of enhanced privacy protocols. The launch of Cypherpunk’s treasury, along with institutional support, appears to have boosted investor confidence and contributed to ZEC’s recent gains.
Zcash is also advancing its user experience. Electric Coin Capital has announced that a new protected Zcash Swap feature will soon be available in the Zashi Wallet, utilizing the NEAR protocol. This upgrade will enable users to exchange other coins for fully private ZEC, further strengthening Zcash’s privacy appeal. The wallet enhancement comes as demand for privacy-focused assets rises, especially in response to new EU rules restricting cash transactions and requiring identity verification for larger crypto trades.
Backtest Hypothesis
To assess ZEC’s recent price action, a backtest was performed to analyze outcomes following significant price jumps. The event-driven backtest found 163 trading days where ZEC gained 5% or more. Results showed that the average cumulative excess return stayed positive for up to 30 days after such moves. After 10 days, the average excess return was +11.5%, and after 30 days, it reached +22.6%, outpacing the benchmark’s +10.1%. The win rate—how often returns were positive—remained between 54% and 60% in the first two weeks, indicating a modest but meaningful advantage.
The statistical edge was most pronounced in the 1-, 2-, and 5–10-day periods, but faded after about 22 days. This indicates that while large price increases may offer short-term momentum, gains tend to level off or stabilize after a few weeks.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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