Zcash Falls Below $1,000 as ETF Outflows Accelerate

ZEC’s decline and the market comparison

Zcash (ZEC) slipped below the $1,000 mark to $982.12, its lowest level since early September, according to BeInCrypto Markets data cited in the report. The token was down 25.22% over the preceding seven days. The move puts the price below a level traders had recently been monitoring, while the scale of its weekly loss makes ZEC’s performance notably weaker than that of several other large cryptocurrencies.

The reported decline arrived alongside substantial withdrawals from US spot Zcash exchange-traded funds. At the same time, research from Grayscale described an expanding base of developers working on the Zcash network. Those developments point in different directions: fund flows and the token price have weakened, while the developer measure has improved. The available figures document that contrast, but do not establish that either trend caused the other.

The price comparison also complicates any explanation based solely on a broad market decline. Bitcoin and Ethereum both fell over the same seven-day period, but ZEC’s loss was larger. Monero, another major privacy-focused coin in the report, also declined, though by less than half as much as Zcash. These comparisons suggest ZEC faced relatively sharper pressure during the measured week, without identifying the precise source of that pressure.

November outflows reverse recent ETF demand

SoSoValue data showed US spot Zcash ETFs recording $14.61 million in outflows on November 11. The report described that as the funds’ largest single-day withdrawal since October 15. This provides a concrete measure of investors pulling money from the products during the period in question. It does not, by itself, show why those investors withdrew, or whether their decisions directly drove ZEC’s price decline.

Withdrawals were not confined to that one session: money left the funds on six of the last nine trading days covered by the report. November’s net outflows consequently reached $29.78 million, while the ETFs’ combined net assets fell to $562.16 million. That asset total was the lowest since September 4. Taken together, the figures show a sustained reversal in fund flows over the reported stretch rather than an isolated daily movement.

The outflows followed a stronger period in late October, when Zcash ETFs recorded their best weekly inflows since mid-September. The change from that inflow peak to November’s withdrawals illustrates how quickly demand for the products shifted in the data presented. The report does not provide a reason for the reversal, nor does it say whether the late-October buying or the later outflows were driven by a particular investor group.

Developer growth contrasts with token weakness

ZEC’s 25.22% weekly loss was roughly three times Bitcoin’s 8.49% decline, according to the comparison in the report. Ethereum fell 15.45%, around 10 percentage points less than Zcash. These figures indicate that the move was not simply identical across the largest assets. They establish relative performance for the stated seven-day window, but they cannot determine whether ZEC’s sharper fall will persist beyond that period.

Monero (XMR) declined 10.41% during the same comparison, a smaller fall than either ZEC or Ethereum. Because Monero is another large privacy coin, its performance offers a useful point of comparison: the losses were not uniform across privacy-focused assets. The report interprets the gap as pointing to pressure more concentrated on Zcash. It remains a comparison of market returns, not proof of a specific event or cause unique to ZEC.

Grayscale’s research, published November 10, tracks development activity rather than market demand. It found that Zcash’s monthly active developer count had roughly doubled over two years. The same research noted that the broader cryptocurrency developer pool shrank during that period. This makes the Zcash figure notable in the context of the study, but the report does not supply an absolute developer count or a breakdown of how activity was distributed across projects.

Price levels and signals traders are watching

The research also reported that about 70% of Zcash’s active developers had more than a year of experience in crypto, compared with 58% across the industry. Grayscale argued that the development momentum could eventually support a higher ZEC valuation. That is the firm’s longer-term interpretation, not evidence of a near-term price effect. In the period described, the token moved lower even as the developer metrics improved.

For the immediate price outlook, analyst Daan Crypto Trades pointed to a liquidation cluster on Hyperliquid between $800 and $900. He said that area also aligned with a previous consolidation, a Fibonacci level and the daily 200-day moving average and exponential moving average. Daan said a move into the zone would have him looking for long positions, with a possible relief bounce toward $950 to $1,000. These are his stated levels and approach, not a confirmed market outcome.

The next signals identified in the report are whether ZEC can reclaim $1,000 and whether ETF flows return to inflows. A daily close above $1,000 would put the token back over the level it recently lost; the next cited level is near $1,100, described as the bottom of its October range. Renewed fund inflows would indicate investors were returning to the products. Neither a recovery nor a flow reversal was established in the reported data.

Source: BeInCrypto