Zcash Surges 31% Amid Bitcoin Slump, Treasury Firm Adds $18 Million to Holdings

Zcash has risen 31% over the last week, while Bitcoin and other major coins are in the red. Cypherpunk Technologies, a publicly traded treasury firm, has purchased an additional 29,869.29 ZEC for $18 million, bringing its total ZEC holdings to 233,644.56. The company's ZEC treasury is now valued at over $146 million. Analysts suggest that Zcash's recent surge may be due to concerns around Bitcoin's transparency and growing mainstream profile.