ZEC drops 5.9% over 24 hours as significant institutional funds flow in

As of November 14, 2025,

fell 5.9% in the past day to $490.35. Over the last week, ZEC declined 20.64%, but it has gained 20.79% in the past month and soared 768.62% over the previous year.

Institutional Support Fuels Zcash’s Growth Plans

Cypherpunk Technologies, which was previously Leap Therapeutics, has adopted a new name and introduced a

(ZEC) Digital Asset Treasury (DAT) approach, supported by a $58.88 million investment from Winklevoss Capital. The company purchased 203,775 ZEC at an average price of $245.37 per token, accounting for about 1.25% of all ZEC in circulation. Their goal is to keep acquiring Zcash until they control at least 5% of the total supply.

Douglas E. Onsi, CEO of

, highlighted the company’s pivot toward digital assets and underscored the long-term value they expect from the ZEC treasury strategy. The firm will be listed on Nasdaq under the ticker , while its biotech segment will continue to operate as Leap Therapeutics.

Privacy-Focused Narrative Gains Traction

Tyler Winklevoss, Gemini’s co-founder, referred to Zcash as “encrypted Bitcoin” or “digital cash,” stressing its significance as a private way to transfer value online. He pointed out the growing need for privacy in today’s digital environment and suggested that both Zcash and

play important but distinct roles in the cryptocurrency landscape. Winklevoss also predicted that Zcash could capture a notable share of Bitcoin’s market value as it expands over the coming decade.

Zcash has experienced significant price swings recently. After surging 1,775% to a record high of $750 in late October, the price sharply corrected, dropping more than 40% to around $420. Although it has rebounded somewhat, it remains well below its peak.

Technical Overview and Market Trends

Currently, Zcash is showing a short-term bearish trend. The price has slipped under key support points, including the upward trendline from October lows and the 50-period Exponential Moving Average (EMA). On the 4-hour chart, selling pressure appears to be easing, and the MACD line is nearing the signal line, which could signal renewed buying interest. The RSI has recovered to 49, indicating a move back toward neutral after a period dominated by sellers. If the RSI surpasses 50, it may point to a return of bullish

.

Behind the scenes, large traders are also impacting Zcash’s price movements. On Hyperliquid, the biggest short position in ZEC has been held for over a month, now showing an unrealized loss of $9.5 million. At the same time, a previously large long position has been gradually reduced and rebalanced at higher prices, reflecting a shifting and complex risk landscape among institutional investors.

Backtest Analysis

Given the recent volatility and institutional activity in Zcash, a backtest was performed to assess ZEC’s performance after daily gains of 5% or more since 2022. The analysis found 163 such instances, with average excess returns staying strongly positive for up to about 21 trading days. The highest returns, around +22.6%, were seen at the 30-day point. The win rate for one-day periods was roughly 54%, rising to about 60% by the tenth day.

These findings indicate that Zcash tends to maintain upward momentum following sharp price increases. A 5% daily rise often triggers sustained buying, supporting the view that medium-term accumulation strategies could be effective for ZEC.