Summary
- Zcash is emerging as institutions' new digital asset treasury option.
- Institutional investors are selling existing digital assets and converting entirely to Zcash or making additional purchases, significantly increasing total holdings.
- Zcash recorded an annual gain of 1008.93%%, showing a clear uptrend compared to Bitcoin and Ethereum.
Privacy coin Zcash (ZEC) is emerging as a new digital asset treasury option for institutions.
On the 26th (Korean time), according to crypto-focused media BeInCrypto, Nasdaq-listed insurer Reliance Global Group recently overhauled its digital asset treasury (DAT) strategy, selling all existing crypto holdings and converting them entirely to Zcash. The company said, "Zcash is the most attractive option in a long-term DAT strategy."
Digital asset treasury firm Cypherpunk Technologies also recently purchased an additional 29,869.29 Zcash tokens (approximately 18 million dollars), raising its total holdings to 233,644.56. This represents about 1.43% of the total supply. Cypherpunk stated, "As privacy becomes scarcer, its value increases," and claimed, "Zcash is a digital form of privacy asset."
Zcash has been one of the most notable cryptocurrencies during the recent downturn. As of 10:21 PM that day, Zcash was trading at 496.57 dollars, down 2.22% from the previous day.
Despite the decline that day, Zcash recorded an annual gain of 1008.93%, showing a clear rise compared to Bitcoin (-6.55%) and Ethereum (-12.54%) over the same period.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
