Zcash was down 13.48% over 24 hours, while long liquidations reached $12.26 million across three major exchanges.
Cameron and Tyler Winklevoss's newly formed asset management vehicle has asked US regulators for permission to list a fund that would hold the privacy coin Zcash outright, proposing a sponsor charge far below the fee already collected by the only live US product of its
Zcash traded at $1,185 on Binance spot at 11:03 a.m. ET Thursday.
Analyzing the impact of outflows in Spot ZEC ETF and selling activity in the derivative market on ZEC price.
Grayscale Managing Director Krista Lynch outlines a new ETF era as a Zcash ETF reaches $1 billion, with implications for crypto investors.
ZEC was quoted at $1,205 after briefly trading below the $1,200 threshold on Oct. 8.
ZEC was down 8.01% over 24 hours at 6:47 a.m. ET Thursday, while long liquidations reached $1.57 million across three exchanges.
Zcash continued its retreat Thursday, trading around $1,241 as persistent ETF withdrawals and weakening technical momentum weighed on the privacy-focused cryptocurrency. It is the worst performer among the top 10 cryptocurrencies by market cap in the last 24 hours. The price is approximately 27% below its September 27 high of $1,698, extending a decline that has lasted roughly ten days. Grayscale's Zcash ETF has continued to experience redemptions, while ZEC's break below a key moving average leaves lower support levels in focus. Grayscale Zcash ETF records further withdrawals Grayscale's Zcash ETF, ZCSH, registered $8.49 million in net outflows Wednesday, according to SoSoValue data. That brought the week's outflows to $12.05 million, following $93.56 million in withdrawals last week.
The Winklevoss twins' low-fee Zcash ETF proposal could intensify competition, potentially driving down costs in the cryptocurrency ETF market. Winklevoss twins pitch a low-fee spot Zcash ETF at Token2049.
The Grayscale fund ranks among the top 1% of ETFs launched over the past decade by first-month assets, Krista Lynch said.
An address withdrew the 1,000 ZEC, valued at about $1.33 million, before transferring the entire amount into the privacy pool.
Zcash is sitting at 160,320.83 right now, and the pressure is real.