Zcash lost about a quarter of its value in seven days
The privacy-focused cryptocurrency traded around $959.41 at 8:34 AM Eastern, down roughly 26% over the week, not in a single day.
Zcash lost about a quarter of its value in seven days.
The privacy-focused cryptocurrency traded around $959.41 at 8:34 AM Eastern, down roughly 26% over the week, not in a single day.
The slide has come alongside withdrawals from its exchange-traded fund. Zcsh saw about $14.6 million in net withdrawals on Wednesday, bringing November's total through November 11 to nearly $30 million. Reports also point to leveraged traders being forced out of positions, adding selling pressure.
What investors are saying: crypto analyst Altcoin Sherpa is watching $800-$900 as a possible bottom, not a confirmed one. Grayscale's Steve Vanourny argues financial privacy becomes more valuable as AI makes online activity easier to analyze.
Grayscale, which manages the Zcash fund, pledged $1 million to support the ecosystem. That's development and education support, not a promise to buy $1 million of ZEC or stop the decline.
Even a promising idea can have a painful price chart. A bullish story isn't protection against losses.
