Zcash slides below $1,000 and slips out of top 10 crypto rankings
Zcash fell below the $1,000 threshold and lost its spot among the top 10 cryptocurrencies by market cap after double-digit daily losses punished leveraged traders.
Zcash broke below $1,000 for the first time since September, knocking the privacy-focused token out of the top 10 cryptocurrencies by market capitalization. CoinGecko data showed ZEC dropping 14.4% in 24 hours to trade at $985.41, slipping to the No. 11 market ranking. Cointelegraph reported that the decline led losses across the top 100 cryptocurrencies amid a wider sell-off in privacy coins.[4][2][6][7][1]
The steep drop arrived despite Grayscale pledging $1 million to Zcash ecosystem initiatives just a day earlier. Analytics Insight reported that Grayscale's Zcash ETF, ZCSH, experienced nearly $30 million in outflows during November, while ZEC derivatives liquidations reached approximately $18 million. Technical charting from CoinMarketCap placed ZEC at $978.30, sitting between the 0.5 and 0.618 Fibonacci retracement levels of its advance from $457.72 to $1,698.00, with $931.51 marking the next lower level.[5][7][3]
The price collapse has placed heavy pressure on leveraged derivatives positions. According to on-chain tracker Lookonchain, trader 0x8742 held a 10x leveraged long position of 18,000 ZEC on Hyperliquid with an entry price of $1,136.07. As the mark price fell to $979.68, the position showed an unrealized loss exceeding $2.8 million against an estimated liquidation threshold of $895.46.[8]
Key facts
- Zcash dropped out of the top 10 cryptocurrencies by market capitalization to rank No. 11 on CoinGecko after a 14.4% 24-hour decline to $985.41.
- ZEC fell below $1,000 for the first time since September, leading losses among the top 100 cryptocurrencies.
- Trader 0x8742 opened an 18,000 ZEC 10x long position on Hyperliquid and racked up over $2.8 million in unrealized losses, with a liquidation price of $895.46, per Lookonchain.
- The price slump occurred despite Grayscale announcing a $1 million commitment to Zcash ecosystem initiatives.
- Grayscale's ZCSH ETF logged nearly $30 million in November outflows while ZEC derivatives liquidations reached about $18 million, according to Analytics Insight.
- CoinMarketCap's Fibonacci retracement model mapped ZEC's rally from $457.72 to $1,698.00, placing the next downside support level at $931.51.
Sources · 8 sources
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- CB
Crypto BriefingArticle ·
Zcash slips out of crypto’s top 10 after 14.4% drop Zcash's market drop highlights the volatility of crypto investments, emphasizing the risks of leverage and the impact of institutional movements. The post Zcash slips out of crypto’s top 10 after 14.4% drop appeared first on Crypto Briefing .
Open source - CO
CoinMarketCap@CoinMarketCapPost on X ·
🤖 $ZEC just fell below $1,000 for the first time since Sept 4. Our agent mapped the rally from $457.72 to $1,698. Price now sits between the 0.5 and 0.618 levels, with $931.51 next below. Try Agentic Charts 👉 https://t.co/FlMocKjWj2 https://t.co/gZJnmDFbjz
Open source - CO
CoinGecko@coingeckoPost on X ·
JUST IN: $ZEC falls out of the top 10 cryptocurrencies by market cap after declining 14.4% today. https://t.co/eavfcKqzvg
Open source - AI
Analytics Insight@analyticsinmePost on X ·
𝐙𝐜𝐚𝐬𝐡 𝐏𝐫𝐢𝐜𝐞 𝐅𝐚𝐥𝐥𝐬 𝐁𝐞𝐥𝐨𝐰 𝐔𝐒𝐃 𝟏,𝟎𝟎𝟎 𝐃𝐞𝐬𝐩𝐢𝐭𝐞 𝐆𝐫𝐚𝐲𝐬𝐜𝐚𝐥𝐞’𝐬 𝐔𝐒𝐃 𝟏 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐄𝐜𝐨𝐬𝐲𝐬𝐭𝐞𝐦 𝐂𝐨𝐦𝐦𝐢𝐭𝐦𝐞𝐧𝐭 Zcash Price Falls Below USD 1,000 Despite Grayscale’s USD 1 Million Ecosystem Commitment! Zcash (ZEC) dropped to approximately USD 979 on November 12, declining 3.7% in 24 hours and more than 25% over the past week. Despite Grayscale announcing USD 1 million in ecosystem funding, its ZCSH ETF recorded nearly USD 30 million in November outflows, while ZEC derivatives liquidations reached approximately USD 18 million. Technical indicators suggest further downside risks, with immediate support near USD 960 and USD 900. Meanwhile, Zcash's recent NU7 network upgrade has yet to reverse bearish market sentiment. Can Zcash reclaim USD 1,000, or will continued ETF withdrawals push ZEC toward USD 900? #Zcash #ZcashPrice #Grayscale #ZcashETF #Cryptocurrency #PrivacyCoins #CryptoLiquidations #ZcashNU7 #AnalyticsInsight #AnalyticsInsightMagazine Read More 👇 https://t.co/mE3DLWbxTC
Open source - CO
Cointelegraph@CointelegraphPost on X ·
🚨 TODAY: Zcash $ZEC fell below $1,000 for the first time since September, leading losses among the top 100 crypto by market cap with a 13.5% drop. https://t.co/06HtbNqXrg
Open source - CT
Coin TelegraphArticle ·
Zcash falls below $1,000 for first time since September Zcash fell nearly 15% amid a broader sell-off in privacy coins, a day after Grayscale pledged $1 million to ecosystem initiatives.
Open source - LO
Lookonchain@lookonchainPost on X ·
$ZEC has dropped below $1,000! Trader 0x8742 opened a 10x long on 18,000 $ZEC ($17.63M) and is now down over $2.8M. Liquidation price: $895.46. https://t.co/azzt3xvmay https://t.co/wczndt7doC
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