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Zcash rose about 5% on Tuesday after Zcash Open Development Lab (ZODL) announced it has secured more than $25 million in seed funding from Paradigm, a16z crypto, Winklevoss Capital, and Coinbase Ventures.
ZODL was founded by Josh Swihart, former CEO of Electric Coin Company. Under his leadership, Electric Coin Company launched the Zcash wallet Zodl, which the announcement says set a new standard for Zcash usability. Since the app launched in 2024, it reportedly drove growth in the Zcash shielded pool by more than 400% and facilitated over $600 million in ZEC swaps since October 2025.
Earlier this year, the announcement says the full Electric Coin Company team, including the product team behind the wallet, joined ZODL to continue building the primary user interface for Zcash.
The work is centered on developing Zodl as an open, self-custodial private financial platform. ZODL says the goal is to expand ecosystem interoperability and bring shielded ZEC transactions to a broader mainstream audience.
Zcash protocol development remains a core part of ZODL’s work. The engineers who designed and built Zcash’s most critical systems at Electric Coin Company have joined ZODL, and will continue developing and maintaining the protocol with a focus on usability and aligning technical advances with user demand.
The fundraise is also described as positioning ZODL for growth, including adding engineers and other talent.
ZEC has been in a downtrend since a November 2025 peak near $740, shedding nearly 70% before finding support around the $200–$210 range. That support area has been tested twice, forming what the article describes as a double-bottom structure.
The Parabolic SAR at $243.06 has flipped below price for the first time in months, which the article says may indicate a potential trend reversal. The Supertrend at $264.90 remains the next overhead resistance level that would need to be flipped to confirm that buyers are back in control.
The article also notes that today’s 5% move, with price reclaiming $226, is the first meaningful higher-low structure developing on the daily. It adds that a sustained hold above $243 and a clean break of $265 would shift the daily structure from bearish to neutral-to-bullish.
According to the article, breaking above $265 would open a measured move toward $395, described as the prior consolidation shelf. It also says that beyond that level, $560—linked to a late-2025 distribution zone—could become achievable if the move turns into a full trend reversal.
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