Zcash Gains on Winklevoss Twins’ New ZEC Treasury Company
Privacy coins like Zcash (ZEC) and Decred (DCR) outperformed the crypto market in the last 24 hours. Zora (ZORA) also saw strong gains. Tyler Winklevoss revealed a $50 million investment to rebrand Nasdaq-listed Leap Therapeutics (LPTX) as a Zcash treasury company. This move boosted privacy coins on Wednesday.
Tyler Winklevoss said his firm, Cypherpunk Technologies (CYPH), holds 203,775 ZEC, about 1.25% of Zcash’s supply. Cypherpunk plans to own at least 5% of all ZEC. He explained, “If Bitcoin is digital gold, Zcash is encrypted Bitcoin, or digital cash. One stores value, the other moves value privately. We believe now, in the AI era, is the right time to accumulate ZEC.”
Zcash currently trades above $500, bouncing from support near $450. It aims to reach Monday’s peak of $684. Technical signals show selling pressure fading, with indicators hinting at rising buying interest.
Decred Price Rises, Eyes $40 Resistance
Decred (DCR) gained 5% on Thursday after a 16% increase the day before. After reaching $70 in early November, DCR is trying to regain momentum. The coin targets $40 and could push toward $45 and $50 if the trend continues.
Technical indicators show growing buying strength. The RSI is at 58 and trending higher, while the MACD stays above zero, indicating steady bullish momentum. Support levels stand at $28 and $22 from recent lows.
Zora Faces Resistance After Recent Breakout
Zora (ZORA), a layer-2 crypto from the Base ecosystem, rose 28% on Thursday. It broke through local resistance but now faces a key hurdle around $0.07277 from November 5. If ZORA closes above this, it could target $0.09150 from October 28.
On the 4-hour chart, the MACD crossed above the signal line and the RSI reached 67, near overbought levels. If ZORA fails to hold gains, it may fall to recent lows near $0.05772 or $0.05438.
