Zcash Falls About 15% for the Day as Exchange Inflows Persist
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Zcash (ZEC) fell about 15% for the day and traded below $1,100, while its market value dropped to nearly $18.3 billion. It remained among the 10 largest cryptocurrencies by market capitalization. The decline came amid a broader crypto-market pullback and a higher-than-expected U.S. inflation reading. Bitcoin (BTC) also fell 3% on a daily basis. ZEC traded at $1,181 at 11:49 a.m. ET (15:49 UTC) Oct. 13, down 6.91% over the previous 24 hours. Market indicators pointed in different directions. ZEC’s relative strength index (RSI), a momentum measure, stood at 30, a level associated with oversold conditions. Exchange netflows showed inflows exceeding outflows over the past few weeks, potentially adding near-term selling pressure.
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