Zcash tumbles nearly 40%, erasing billions in market value

Zcash (ZEC) experienced a sharp sell‑off, dropping about 39.5% in a single day and trading near $305. The plunge wiped billions from the privacy coin’s market capitalization, which now stands around $5.27 billion, while daily trading volume reached roughly $9.1 billion.

Technical indicators show the price falling below key Bollinger Band levels and a bearish MACD crossover, suggesting continued downside momentum. Analysts warned that bears are targeting $200 and even $150 levels, noting that the coin’s recent corrections have followed a pattern of rapid reversals.

The crash has raised concerns among investors and the Zcash community about the coin’s stability and future relevance, especially as developers work to address underlying security issues and restore confidence.