A Nasdaq-listed company purchased 56,000 ZEC tokens for $29 million, increasing its holdings to 290,000 tokens.

According to Odaily Planet Daily, Nasdaq-listed Cypherpunk Holdings has increased its Zcash holdings to 290,062.67 Zcash, representing approximately 1.76% of the circulating supply. This new purchase involved 56,418.09 ZEC, valued at approximately $29 million, at an average purchase price of $514.02 per ZEC. The current average purchase price for all of its ZEC holdings is $334.41 per ZEC. Cypherpunk Holdings Chief Investment Officer Will McEvoy stated that the company will continue to pursue its goal of holding a 5% stake in the Zcash network.