Core Insights - Zcash (ZEC) has experienced a significant price increase of 31% over the past week, contrasting with declines in major cryptocurrencies like Bitcoin and Ethereum [1][4] - Cypherpunk Technologies has expanded its Zcash holdings, purchasing an additional 29,869.29 ZEC for $18 million, bringing its total to 233,644.56 ZEC valued at over $146 million [2][5] Company Activities - Cypherpunk Technologies' total ZEC acquisition includes an initial purchase of 203,775.27 ZEC for $50 million, resulting in an average acquisition price of $291.04 per coin [2] - The firm has recently appointed Khing Oei and Will McEvoy to its board, enhancing its leadership with experienced investors [5] Market Performance - Zcash is currently trading at $626 per coin, reflecting a 125% increase over the last 30 days and a more than 15x rise since early September [3] - In contrast, Bitcoin has seen a decline of over 12% in the past week, dropping to a seven-month low of nearly $88,637 [4] Industry Trends - The surge in Zcash's price may be attributed to growing concerns about Bitcoin's transparency and increased interest from institutional investors, leading crypto enthusiasts to seek privacy-focused alternatives [6] - Zcash is positioned as "encrypted Bitcoin," appealing to those wary of on-chain surveillance [7]

Zcash Surging on 'Cypherpunk Principles' as Bitcoin Alternative: Galaxy Digital► https://t.co/kgTEnIzL9L https://t.co/kgTEnIzL9L ...