Zcash (ZEC) has experienced a significant decline, falling approximately 60% since its peak in November 2025. Data reveals that Cypherpunk Technologies, a digital asset vault company backed by the Winklevoss brothers, has seen the price of ZEC drop over 50% since their last disclosed purchase on December 30, 2025. Currently, Cypherpunk holds around 290,000 ZEC, representing about 1.76% of the circulating supply, but has not made further acquisitions. With an average purchase price of approximately $334, the company faces an unrealized loss of about $25.7 million.