Zcash, the privacy-focused cryptocurrency, surged more than 12% to trade near $600 on Sunday after OKX announced it would relist the token.

The rally makes ZEC the top-performing asset among major cryptocurrencies in the last 24 hours, significantly outpacing Bitcoin, which has struggled to reclaim the $90,000 level.

Wall Street Divided on Zcash Impact on Bitcoin

On November 23, OKX announced that spot trading for the ZEC/USDT pair would resume at 12:00 UTC tomorrow.

OKX 将上线 ZEC (Zcash) 现货交易，现已开放充币，开盘时间11月24日晚20:00 (UTC+8)，详见公告👇🏻

— OKX中文 (@okxchinese) November 23, 2025

While the exchange failed to provide additional reasons for its decision, the move marks a significant regulatory U-turn for the venue. It had previously delisted the asset in 2023, citing compliance risks.

Nonetheless, the decision can be linked to two significant factors, including ZEC’s strong outperformance of Bitcoin in recent months.

It also reflects a post-election regulatory thaw, as the new SEC leadership is emboldening platforms to re-integrate privacy protocols that were once considered radioactive.

Meanwhile, the resurgence of Zcash has ignited a philosophical clash on Wall Street regarding the future of digital privacy.

Eric Balchunas, Senior ETF Analyst at Bloomberg, cautioned that the sudden pivot to privacy coins could fragment the broader crypto narrative. He noted that this shift comes at a time when Bitcoin is trying to consolidate institutional support.

He argued that pushing a separate privacy layer risks “splitting the vote” of capital allocation when Bitcoin needs unified political and cultural backing to cement its status as a global reserve asset.

“Zcash has third-party candidate vibes, like Gary Johnson or Jill Stein. Seems like you’d better off folding in their ideas to the main party vs splitting the vote, which could have major consequences, especially in such a crucial time for BTC,” he said.

However, asset managers suggest that fundamental flaws in Bitcoin are driving the rotation.

Jan van Eck, CEO of global investment manager VanEck, pushed back against the “spoiler” characterization. He noted that veteran investors are treating Zcash as a necessary complement to Bitcoin rather than a competitor.

TLDR:

The bitcoin bear market is being driven by the onchain reality of the halving cycle (bearish for 2026), quantum-breaking-encryption concerns and the better privacy of Zcash.@vaneckpk said it best: dollar cost average into bear markets@vaneck_us https://t.co/T4o8ofDggD

— Jan van Eck (@JanvanEck3) November 21, 2025

According to Van Eck, the current bear market in Bitcoin reflects “the on-chain reality” of surveillance risks. He argued that rising demand for confidentiality is driving capital toward Zcash’s encrypted ledger.

The post Zcash Rallies After Latest Relisting Announcement From Major Exchange appeared first on BeInCrypto.

BitMine is intensifying its aggressive accumulation of Ethereum, looking past a 47% collapse in its stock price and billions in unrealized losses.

On November 23, blockchain platform Lookonchain reported that a wallet linked to the corporate giant received 21,537 ETH. The transfer, valued at approximately $60 million, came from institutional prime broker FalconX.

BitMine Doubles Down on Ethereum With Staking Plan

This new purchase would bring BitMine’s total hoard to over 3.5 million ETH, representing nearly 3% of the token’s circulating supply.

Tom Lee(@fundstrat)'s #Bitmine is still buying $ETH.

A new wallet 0x5664 — likely linked to #Bitmine — just received 21,537 $ETH($59.17M) from the #FalconX 8 hours ago.https://t.co/8kg77vYddh pic.twitter.com/FKivNNe0jM

— Lookonchain (@lookonchain) November 23, 2025

The move signals a defiant commitment to its “Strategic ETH Reserve” strategy despite the asset’s recent price struggles.

Indeed, Ethereum is trading near $2,808, down roughly 29% over the past month. Notably, BitMine’s Thomas Lee had attributed ETH’s recent weakness to broader market mechanics rather than fundamental flaws.

According to him, the October 10 “liquidity shock,” which wiped nearly $20 billion in leveraged positions from the crypto market, was the primary driver of the drawdown.

“In 2022, the post-FTX liquidity shock took 8 weeks to clear, but similar to prior drawdowns, crypto prices quickly recovered. History shows crypto prices stage V-shaped recoveries after a lingering and drawn out decline, and we expect this to again be the case in this current drawdown,” He added.

As a result, the downturn has significantly impacted BitMine’s ETH holdings, leaving the firm with an estimated $4 billion in paper losses. This divergence has weighed heavily on BitMine’s stock, which has shed nearly half its value over the past 30 days.

To offset the sting of declining asset prices, BitMine is effectively rebranding itself from a passive ETH holding company to an active yield generator.

On November 21, the firm announced the launch of the “Made in America Validator Network” (MAVAN). The proprietary staking infrastructure is set to go live in early 2026.

Meanwhile, the firm confirmed that it has selected three pilot partners to test its staking operations.

“We plan to partner with one or more of these pilot partners plus world-class infrastructure providers to scale our own “Made in America Validator Network” (MAVAN) over the coming quarter…we believe in building the premier destination for our natively staked Ether and are proud to build with the best partners. At scale, we believe our strategy will best serve the long-term best interests of our shareholders,” Lee stated.

By staking its 3.5 million ETH, BitMine could theoretically generate substantial annual revenue from network rewards. This would create a cash-flow floor that pure holding strategies lack.

Additionally, the firm declared an annual dividend of $0.01 per share, positioning itself as the first large-cap crypto treasury to return capital to investors directly.

The post BitMine Ramps up Ethereum Buying With New $60 Million Purchase appeared first on BeInCrypto.

Cardano is facing renewed questions about its network resilience after a malformed transaction triggered a temporary chain split this week.

A pseudonymous X developer known as Homer J caused the November 21 incident and revealed that he relied on artificial intelligence tools.

Why Cardano Experienced a Temporary Chain Split

The developer stated that they had no malicious intent and the action was a “failed personal challenge.”

“I didn’t sell any Ada before my ‘testing in production’ disaster, or short it (don’t even know how to do that) or worked with anyone on this or plan it long and hard. I do have a lot to lose as a consequence of my actions. Sorry, Cardano community, I truly am,” the developer claimed.

In the post-mortem, Intersect, an organization within the Cardano ecosystem, said an oversized hash caused the flaw by slipping through initial validation checks.

This created a temporary fork between the chain carrying the poisoned transaction and a second, healthy chain.

“While the core Cardano protocol remains robust, this edge-case vulnerability provided a vector for the disruption. The transaction was crafted specifically to trigger this bug on mainnet following its earlier discovery on the Preview network, creating a consensus disagreement between nodes that had processed the transaction and those that had not,” Intersect explained.

Intersect said the bug had been masked for years by older ledger versions and standard transaction tooling.

It surfaced only in recent node releases combined with specialized submission methods.

While the split caused many wallets and decentralized applications to become inoperative, block production continued.

“It is important to note that the network did not stall. Block production continued on both chains throughout the incident, and at least some identical transactions appeared on both chains,” Intersect stated.

Following the incident, staking pool operators were instructed to download an updated node release, which enabled the ecosystem to consolidate the two chains back into a single canonical history.

Meanwhile, Cardano’s blockchain founder Charles Hoskinson has hinted that the attacker could face legal consequences for his actions.

“Cardano works so fast that we forked, fixed, and caught the guy all in one day. He was quite active in the Fake Fred discord. It was absolutely personal and now he’s trying to walk it back because he knows the FBI is already involved,” Hoskinson said.

Cardano’s Technology Earns Praise

Cardano’s technology response to the incident drew unexpected praise from outside its community.

On November 23, Solana co-founder Anatoly Yakovenko praised Cardano’s consensus design while hailing the network’s response to the issue.

The Solana network is one of Cardano’s largest rivals, and the two often compete for developer and investor attention.

I am gonna go out on a limb and actually say this is pretty cool. Nakamoto style consensus without proof of work is extremely hard to build. The protocol functioned as designed in the presence of bugs. https://t.co/K3WO0BE7Cf

— toly 🇺🇸 (@aeyakovenko) November 23, 2025

Yakovenko noted that maintaining network continuity without proof-of-work is “extremely hard,” and argued that the protocol behaved as intended under stress.

His comments stand out in an industry where rival ecosystems rarely commend each other’s architecture.

Cardano developers and operators treated the acknowledgment as validation of the network’s ability to withstand edge-case failures without widespread disruption.

“This whole thing was only possible because of Ouroboros, our Nakamoto-style consensus, and the way the community, SPOs, and the dev teams all stepped up together,” Dori, a Cardano Drep, said.

The post Cardano Swiftly Recovers From AI-Caused Chain Split appeared first on BeInCrypto.