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Mult Early Release in Capital: Zcash Price Surges Over 40% Today
CryptoWorld News reports that the price of Zcash (ZEC) surged over 40% on Wednesday, reaching a high of $600 before stabilizing at $579. The rally was sparked by early-stage issuance news from Multin Capital co-founder Tushar Jain, who revealed that the firm has quietly accumulated significant Zcash positions since early 2024. Jain views this investment as a long-term bet on the “cyberpunk ideal,” emphasizing Zcash’s role as a censorship-resistant and privacy-protecting digital asset. The news drew attention from retail and institutional traders, boosting the token’s bullish momentum. Daily trading volume soared to nearly $1.6 billion, the highest level since 2026. Zcash confirmed a bullish cup-and-handle breakout pattern, successfully surpassing the $400 neckline resistance, with momentum indicators showing increased upward strength. If the breakout holds, the bull market could target $650, followed by resistance near $700.