Zcash (ZEC) surged 6% on November 13, 2025, breaking above the $500 mark, following a $100 million treasury investment announcement by Tyler Winklevoss through Cypherpunk Technologies. This new digital asset treasury, operating under the ticker CYPH and backed by $58.9 million from Winklevoss Capital, has already acquired over 203,000 ZEC tokens, with plans to control at least 5% of the total Zcash supply, marking one of the largest institutional positions in the coin's history.
Winklevoss framed Zcash as a privacy hedge against Bitcoin, describing it as encrypted bitcoin and emphasizing its self-sovereignty features. The investment triggered a strong market reaction, with ZEC outperforming the broader cryptocurrency market, which fell roughly 1.7% during the same period. Zcash has seen a remarkable 1,100% gain since September, reaching a market cap of around $8.8 billion and ranking as the 26th largest cryptocurrency globally.
Concurrently, Zcash is preparing for Network Upgrade 6.1 (NU6.1), scheduled for November 23-24, 2025, at block height 3,146,400. This upgrade, supported by The Electric Coin Company and the Zcash Foundation, enhances privacy features and introduces a new funding model: 8% of block rewards will go to community grants via ZCG, and 12% to a Coinholder-Controlled Fund. Users must update wallets to remain compatible, though holiday season delays in app store reviews may temporarily affect adoption.
Market interest is further highlighted by the Grayscale Zcash Trust, which holds $252.08 million in assets and shows a net asset value (NAV) of $52.20 per share against a market price of $40.51 as of November 17. ZEC also led Coinbase searches with 52,000 queries, surpassing BTC and XRP, underscoring growing retail and institutional confidence in privacy-focused assets.
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