The Zcash Open Development Lab (ZODL) secured approximately $25 million in funding from major venture capital firms. Despite the market showing confidence in the project, the prices have not shown any inflection. But ZEC price may have reached the floor price.
Zcash abandoned ECC amid though work conditions
The Zcash team, which broke away from the Electric Coin Company (ECC) – the entity behind Zcash (ZEC) – has established a new company called ZODL.
On Monday, the founder of ZODL stated that the company secured $25 million in seed funding from a16z, Paradigm, Winklevoss Capital, Coinbase Ventures, Cypherpunk Technologies, Maelstrom (family office of Arthur Hayes), Chapter One, David Friedberg, Haseeb Qureshi, Mert, Balaji, and others.
ZODL founder Josh Swihart is the former CEO of Electric Coin Company (ECC).
“Under his leadership, ECC launched the flagship Zcash wallet Zodl (formerly Zashi), setting a new standard for Zcash usability. Since its launch in 2024, the app has driven growth in the Zcash shielded pool by over 400% and facilitated more than $600M in ZEC swaps since October 2025,” read the official blog post of ZODL.
The Zcash team exited the ECC after a ‘constructive discharge.’ A constructive discharge happens when an employer creates working conditions so objectively intolerable that a reasonable employee would feel compelled to resign.
“The terms of our employment were changed in ways that made it impossible for us to perform our duties effectively and with integrity,” Swihart added.
Despite all the developments happening in the background, the ZEC price continues its downtrend for the fourth consecutive month. Now that ZEC has found support at $217, it looks like the token has reached its floor price, and a rebound could be coming.
ZEC may have reached its floor price
The relative strength index (RSI) indicator, which was on a downtrend, has now flattened, and it’s almost parallel to the horizontal.
Reading a value of 44, the prices could be at a pivotal point of recovery. In addition, the RSI is approaching the RSI-SMA line, which is above it, substantiating the fact that the ZEC prices could be recovering.
