Reliance Global Moves Entire Crypto Treasury to ZCash Amid ZEC Rally

Reliance Global, a Nasdaq-listed insurance technology firm, has decided to transfer its entire crypto treasury to the privacy-focused cryptocurrency ZCash. This decision follows a significant rally in ZEC's price over the past month despite a broader market downturn.

Key Points:

Reliance Global's board approved an expansion into digital assets, leading to the move towards ZCash.
The company previously held a diversified portfolio including Bitcoin, Ethereum, Cardano, XRP, and Solana.
A strategic review concluded that ZCash offers strong long-term potential due to its privacy features.
ZCash's system supports both transparent and shielded transactions, maintaining regulatory compatibility while offering enhanced privacy.
Moshe Fishman highlighted the firm's confidence in ZCash's role at the intersection of cryptography and financial privacy.

ZCash Price Movement:

ZCash saw a substantial price increase, reaching $730 before reducing to $500, still marking a 40% monthly gain.
Analysts see a bullish structure as long as the price remains above a key support trendline.
If momentum continues, ZEC could potentially aim for a return to the $730 range. A fall below the trendline could negate this bullish outlook.