Zcash Falls Below $1,000 as Privacy Coins Extend Their Sell-Off

Zcash fell below $1,000 for the first time since September, reaching $962.85 Wednesday as a broader retreat in privacy coins pushed the asset to a two-month low. As of 7:20 a.m. ET (12:20 UTC), ZEC was down 13.5% over 24 hours and 24.5% over seven days. Its 24-hour decline was the steepest among the 100 largest cryptocurrencies by market value. The pullback extended across the privacy-coin category, whose combined market value fell about 7% in 24 hours. Bitcoin (BTC) was down 5.8% and Ether (ETH) 11.6% over the same seven-day period. Grayscale pledged $1 million Tuesday for nonprofits and projects supporting the Zcash network. Zcash supports shielded payments, which conceal sender and recipient addresses and transaction amounts from public view.

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