Zcash Surges as Winklevoss-Backed Fund Unveils $100M Treasury
Zcash Surges as Winklevoss-Backed Fund Unveils $100M Treasury
Zcash (ZEC) has experienced a significant price increase following the announcement from Cypherpunk, a Winklevoss-backed entity, revealing a new $100 million Zcash treasury. This fund aims to acquire a substantial portion of the total Zcash supply, targeting at least 5%.
Winklevoss-Backed Fund Boosts Zcash Market Sentiment
The cryptocurrency Zcash (ZEC) registered a notable price jump today, according to reports from The Defiant. This surge in value is attributed to the public unveiling of a $100 million Zcash treasury by Cypherpunk, an investment vehicle supported by the prominent Winklevoss twins. The strategic objective of this new treasury is to accumulate a significant stake in the Zcash ecosystem, with plans to hold a minimum of 5% of the total Zcash supply. This substantial commitment from a high-profile backing group has evidently fueled positive market sentiment and investor interest in ZEC.