ZEC Jumps 6.68% Following Winklevoss-Supported Treasury Approach

On November 14, 2025, Zcash (ZEC) experienced a notable 6.68% increase in value over a 24-hour period, climbing to $548.91, despite having dropped 9.98% in the previous week. Over the past month, the token has posted a strong gain of 37.03%, and over the past year, it has soared by 885.34%. This upward momentum was partly attributed to the public launch of

, a company backed by the Winklevoss twins that recently transitioned from its former identity as Leap Therapeutics.

Now listed on Nasdaq under the ticker

, Cypherpunk has shifted its business model from cancer biotechnology to managing a digital asset treasury, with a primary focus on . Tyler Winklevoss, Gemini’s co-founder, revealed that the company has already purchased around 203,775 ZEC tokens at an average price of $245 each, representing roughly 1.25% of the total ZEC in circulation. The company’s goal is to increase its holdings to at least 5% of the total supply, which would amount to more than 800,000 ZEC tokens.

Winklevoss highlighted the importance of

as both a privacy safeguard and a potential supplement to . He suggested that Zcash could eventually account for a significant share of Bitcoin’s market cap, reflecting the rising demand for privacy-oriented digital assets. The company’s strategic shift was supported by a $58.9 million private investment led by Winklevoss Capital, and it has also registered a $200 million Controlled Equity Offering facility to enhance its capital management options.

The company’s approach to treasury management carries certain risks, as shown by data from derivatives exchanges. On Hyperliquid, a major investor has maintained a substantial short position in ZEC for over a month, currently facing an unrealized loss of $9.5 million. At the same time, a previous leading long position in ZEC has scaled back after a period of volatility, closing much of its position and reallocating in smaller amounts. These divergent strategies point to uncertainty among key players in the ZEC market.

Market analysts have also been monitoring technical signals and trading patterns. Since early September, Zcash has been on an extended upward trend, trading near its highest levels in years. Although there have been recent pullbacks, ZEC is still up more than 100% for the month and 1,100% over the past year. The broader market has seen increased interest in privacy coins, with Zcash and others such as

showing strong performance.

A major upgrade—Network Upgrade 6.1—is planned for November 23. Developers are urging users to update their wallets to ensure compatibility. This update, along with enhanced privacy through the Orchard shielded pool, could further boost Zcash’s attractiveness to privacy-focused investors.

Backtest Hypothesis

ZEC’s latest price rally fits with historical trends seen after large daily increases. Since January 1, 2022, ZEC has recorded 163 days with price jumps of 5% or more. Analysis of these instances shows that ZEC often experiences continued

after such moves, with cumulative excess returns peaking around 30 days later.

On average, the token has produced an excess return of 1.20% within a day after a surge, with this momentum generally lasting for the next 30 days and reaching a cumulative excess return of about 12%. The win rate—meaning the percentage of times ZEC outperformed the benchmark—has stayed between 50% and 60% over the 30-day period. The strongest outperformance was observed between days 5 and 20 after the surge, suggesting this is a favorable period for potential gains.

This evidence supports the idea that ZEC’s momentum following major price jumps is not random, but rather reflects a consistent pattern that could help guide investor decisions on when to enter or exit the market. With the recent 6.68% rise, analysts may watch the coming month for further confirmation of this trend.