ZEC -5.9% in 24 Hours Amid Major Institutional Investment

On NOV 14 2025, ZEC dropped by 5.9% within 24 hours to reach $490.35, ZEC dropped by 20.64% within 7 days, rose by 20.79% within 1 month, and rose by 768.62% within 1 year.

Institutional Backing Drives Zcash’s Strategic Expansion

Cypherpunk Technologies, formerly known as Leap Therapeutics, has rebranded and launched a Zcash (ZEC) Digital Asset Treasury (DAT) strategy backed by a $58.88 million investment from Winklevoss Capital. The firm acquired 203,775 ZEC tokens at $245.37 each, representing approximately 1.25% of the total ZEC supply. The company intends to continue accumulating Zcash to hold at least 5% of the total supply.

Douglas E. Onsi, CEO of Cypherpunk Technologies, emphasized the strategic shift toward digital assets and highlighted the long-term value creation potential of the ZEC treasury initiative. The company will trade under the ticker CYPH on Nasdaq, while its biotech operations will continue under the Leap Therapeutics brand.

Privacy-Centric Narrative Gains Momentum

Tyler Winklevoss, co-founder of Gemini, described Zcash as “encrypted Bitcoin” or “digital cash,” emphasizing its role as a means of private value transfer in the digital age. He stressed the importance of privacy in an increasingly online world and argued that Zcash and Bitcoin serve complementary functions in the crypto ecosystem. Winklevoss also suggested that Zcash could capture a meaningful portion of Bitcoin’s market capitalization as it grows over the next decade.

Zcash’s recent price action has been marked by volatility. Following a parabolic 1,775% surge to an all-time high of $750 in late October, the price corrected sharply, dropping over 40% to the $420 level. It has since partially recovered, but remains significantly below its peak.

Technical Analysis and Market Behavior

Zcash is currently exhibiting a bearish bias in the short term. The price has broken below key support levels, including the rising trendline connecting October lows and the 50-period Exponential Moving Average (EMA). The 4-hour chart shows a decline in selling pressure, with the MACD line approaching the signal line, hinting at potential buying interest. Meanwhile, the RSI has rebounded to 49, signaling a shift toward neutral territory after sell-side dominance. If RSI climbs above 50, it could indicate renewed bullish momentum.

Beneath the surface, Zcash’s price behavior is also being influenced by large trader activity. On Hyperliquid, the largest short position on ZEC has been held for over a month, with an unrealized loss currently at $9.5 million. Meanwhile, a former large long position has been gradually closed and rebalanced at a higher price, indicating a complex and evolving risk profile among institutional players.

Backtest Hypothesis

Given Zcash’s recent volatility and institutional involvement, a backtest was conducted to evaluate the performance of ZEC following 5% daily price surges since 2022. The test identified 163 such events, with average excess returns remaining significantly positive for up to ~21 trading days. Notably, returns peaked near +22.6% at the 30-day mark. The one-day win rate was approximately 54%, improving to around 60% by day 10.

These results suggest that Zcash exhibits meaningful momentum continuation following sharp price increases. A 5% move upward appears to act as a catalyst for sustained buying pressure, reinforcing the idea that ZEC may benefit from strategic accumulation strategies over the medium term.