Zcash Falls Below $1,000 for First Time Since September
ZEC dropped 13.5% in 24 hours as the converted Grayscale fund logged about $15 million in November outflows, according to SoSoValue.
- On Wednesday, Zcash fell to a two-month low of $962.85, a day after Grayscale pledged $1 million to nonprofits and projects supporting the Zcash network.
- The Zcash network activated its NU7 upgrade, which reduced block times to 25 seconds and made about 12,224 ZEC held in the original privacy pool unspendable.
- Broader crypto markets declined after consumer prices rose 0.4%, exceeding the 0.3% forecast, leaving Bitcoin down 5.8% and Ether down 11.6% over the same period, according to CoinGecko.
- Grayscale's Zcash Trust, converted into an ETF on NYSE Arca on Aug. 25, recorded about $15 million in net outflows in November through Monday, following about $46 million in October, according to SoSoValue.
- Despite a 24.5% decline over seven days as of Wednesday, Zcash remains the largest privacy coin, accounting for about 60% of the $28 billion category tracked by CoinGecko.
17 Articles
17 Articles
Zcash Dips Below $1,000 Despite Grayscale Running a Front-Page Ad for ZEC. Is It Still a Good Investment?
The post Zcash Dips Below $1,000 Despite Grayscale Running a Front-Page Ad for ZEC. Is It Still a Good Investment? appeared first on 24/7 Wall St..Zcash (CRYPTO: ZEC) has dropped below $1,000 and trades at $987. The decline follows a front-page newspaper ad Grayscale published the day before, proclaiming “The Zcash $ZEC takeover.” It fell 14.1% in 24 hours and slipped 5.5% below the past month’s lowest daily close, $1,044 on November 10. With su…
Zcash Drops Below $1,000 for First Time Since September
Zcash (ZEC) slid to a two-month low of $962.85 on Wednesday, dropping further despite the recent activation of the NU7 upgrade and new institutional activity tied to the network. The selloff pushed ZEC to one of the weakest performers among major crypto assets, reflecting a broader risk-off move across digital markets. By 12:20 pm UTC, [...]
Zcash Sinks Below $1,000 Despite Grayscale’s New Ads
Zcash fell below $1,000 after breaking out of a three-week trading range. Grayscale started a nationwide Zcash ad campaign and an ecosystem fund on the same day. Investors kept pulling money from Grayscale’s Zcash ETF in October and November. The chart is deeply oversold, but it shows no confirmed reversal yet. Zcash (ZEC) dropped below $1,000 on November 11 and traded near $991 by mid-afternoon in Europe. That is a 15.3% loss in 24 hours and 22…
Zcash listed under the $1,000 mark on Wednesday morning. Around 7:50 a.m. (CET) a ZEC cost 980.82 dollars according to CoinGecko, a minus of 14.8 percent in 24 hours. On octopus the price fell to 976.80 dollars and thus to the lowest level since September 4. At the same time the asset manager Grayscale advertises as loudly as never for his Zcash fund ZCSH: with a front page in the Wall Street Journal and a promotion pledge over 1 million dollars…
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