$2.8 million paid to Zcash holders as new ZCAT tax funds distributions
A new cat-themed memecoin charges a 3% tax on transactions to fund direct payments of ZEC tokens to existing holders, while Bitcoin faces a significant sell pressure at $83,000.
ZCAT, a newly launched cryptocurrency focused on cats, implemented a 3% transaction tax to financially support its community. The project collected proceeds from token movements and distributed the funds as Zcash (ZEC) tokens to holders, totaling approximately $2.8 million. This distribution strategy creates a direct financial link between trading activity in ZCAT and holdings of ZEC. Simultaneously, Bitcoin encountered resistance at the $83,000 price level. On-chain data indicates that all wallet cohorts moved into net distribution for the first time since early June. While some analysts identify a potential golden cross as a positive signal for bulls, the prevailing market action reflects selling pressure from large holders.
