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. It remains the largest privacy coin by market value, representing about 60% of the category’s $28 billion total.