Zcash Price News: Why Did ZEC Rocket 30% and What's Next
The move triggered nearly $62 million in liquidations as Multicoin Capital said it had been building a significant ZEC position since February.
- On Tuesday, Zcash surged nearly 30% to $543 after crypto fund Multicoin Capital disclosed a significant position in the privacy-focused token.
- Co-Founder and Managing Partner Tushar Jain framed the investment around California's "wealth seizures," warning that public holdings remain exposed to potential state-level wealth taxes.
- CoinDesk Research reported that Zcash reached "encryption supremacy," with about 5 million coins now held in shielded addresses using zero-knowledge cryptography to prevent de-anonymization.
- Trading volume crossed $1.3 billion over the past day, triggering nearly $62 million in total liquidations across roughly 5,000 traders; ZEC-tracked futures saw almost $60 million in shorts wiped out.
- The disclosure marks a strategic shift for Multicoin, which argued in 2019 that privacy was merely a feature, as ZEC now integrates with the Solana ecosystem through Zenrock's wrapped product.
20 Articles
20 Articles
Zcash (ZEC) Explodes 40% After Multicoin Capital Discloses Strategic Investment
Key Highlights Multicoin Capital, managing $2.7B in assets, disclosed accumulating ZEC positions starting February 2024. The privacy coin climbed over 40% within 24 hours, momentarily reaching $607—a fresh year-to-date peak. Chart analysis reveals a bull flag pattern breakout suggesting potential movement toward $800. Robinhood added ZEC trading on April 23, providing access to nearly 26 million funded accounts. More than 30% of total ZEC suppl…
Multicoin Capital built a huge position in Zcash (ZEC), as co-founder and managing partner Tushar Jain revealed during the Consensus Miami. The executive linked the purchase to the theory that private value reserves will become more and more relevant as finance migrates to blockchain. Jain pointed out that, while Bitcoin can withstand protocol-level freezes, public property exposes holders when a government, creditor or other actor manages to li…
Zcash rips nearly 40% after Multicoin reveals major stake built since February
The surge in Zcash highlights growing demand for privacy-focused assets amid increasing regulatory scrutiny and potential wealth taxes. The post Zcash rips nearly 40% after Multicoin reveals major stake built since February appeared first on Crypto Briefing.
The crypto markets have just offered a new episode of extreme volatility, and Zcash is the epicenter of it. In a few hours, the token has jumped by 30%, triggering tens of millions of dollars of liquidations and massively trapping the sellers in the open. This brutal movement goes beyond a simple technical imbalance. It is inserted in a context where privacy-oriented cryptos are regaining ground and influencing the dynamics of the market again. …
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