ZEC +6.03% as Privacy-Oriented Treasury Debuts

On NOV 16 2025, ZEC rose by 6.03% within 24 hours to reach $703.15, ZEC rose by 60.45% within 7 days, rose by 75.79% within 1 month, and rose by 1164.07% within 1 year.

Cypherpunk Technologies, formerly Leap Therapeutics, has taken a decisive step in its corporate evolution by establishing a $50 million Zcash (ZEC) treasury. The company acquired 203,775 ZEC at an average price of $245.37 per coin, representing approximately 1.25% of the total ZEC supply. This acquisition was funded through a $58.88 million private placement led by Winklevoss Capital, signaling strong institutional backing for Zcash.

CEO Douglas E. Onsi emphasized that this treasury is part of a long-term strategy to support Zcash’s growth and deliver sustained value to shareholders. Cypherpunk plans to continue buying ZEC until it controls at least 5% of the total supply. The company is also preparing for a Nasdaq listing under the ticker CYPH, while its biotechnology division will continue operating under the Leap Therapeutics brand.

Tyler Winklevoss, Gemini co-founder, has publicly endorsed Zcash, referring to it as “encrypted Bitcoin.” He highlighted its privacy features as complementary to Bitcoin’s transparent ledger and suggested that Zcash could play a larger role in the future of digital finance, especially as AI and digital payments expand. Winklevoss also pointed out that Zcash’s unique position in the market could allow it to capture a meaningful share of Bitcoin’s anticipated appreciation in the coming years.

Zcash has also seen product innovation with the announcement of the Zashi Wallet’s new Zcash Swap feature. Powered by the NEAR protocol, this enhancement allows users to convert other cryptocurrencies into private ZEC, reinforcing ZEC’s appeal in a regulatory landscape where privacy is increasingly valued. The EU’s new identity verification and cash transaction rules are also contributing to a rise in demand for privacy-focused assets.

The recent price action of ZEC has been driven not only by institutional interest and product development but also by growing adoption of privacy-centric blockchain solutions. With a new ZEC treasury strategy in place and continued institutional support, the asset appears to be gaining traction in both the retail and institutional markets.

Zcash has also initiated its Q4 2025 Coinholder-Directed Grants Program, opening a voting window for the community to direct funding. This initiative underscores the ongoing efforts to decentralize governance and engage the broader Zcash community in strategic decision-making.

Backtest Hypothesis

To better understand the potential performance trajectory of Zcash following significant price movements, a backtest was conducted on price surges of 5% or more between January 1, 2022, and November 16, 2025. The backtest identified 163 such events. The results showed that the average cumulative excess return remained positive for up to 30 days after a surge. Specifically, the average excess return was +11.5% after 10 days and +22.6% after 30 days, outperforming a buy-and-hold benchmark by +10.1%. The win rate—defined as the percentage of times returns were positive—remained above 54% for the first two weeks, indicating a consistent but modest momentum advantage.

The statistical edge was most notable in the 1- to 10-day periods but began to fade after 22 days. This suggests that while large price surges may offer a short-term boost, the gains tend to stabilize or plateau after a few weeks.