Zcash Drops to $550 as Traders Defend 33% Weekly Surge and Eye Another Run

"Zcash (ZEC) retreated to $550 on May 11 after a surge, maintaining its spot as the top privacy coin. Despite a 7% daily dip, ZEC is up 33% over 7 days following a $25M funding boost from firms like a16z. Proponents eye a parabolic rally for ZEC in 2026, though critics warn about shielded pool liquidity."

"Market data shows that after peaking just below $640 on May 9, ZEC retreated to $550 by 11 a.m. EST on May 11 before recovering slightly to $555. However, despite the nearly 7% decline over 24 hours, the reversal did not erase most of the gains ZEC made since May 4, when the privacy coin initially surged from below $420 to $600 in less than 24 hours."

"Although it slipped below the $550 threshold a day later, ZEC largely held above that level until now, leading proponents to conclude that the token may be poised for a parabolic rally similar to the one seen in the final quarter of 2025. Although the price reversal chipped away at zcash's value, the privacy coin was still up 33% over seven days, market data showed."

"Renewed interest in zcash follows a turbulent start to the year, marked by the mass resignation of the development team over a governance dispute with the Bootstrap board. As reported by Bitcoin.com News, the resignations rattled the privacy community and triggered a sharp sell-off in ZEC"

Zcash (ZEC) dropped to about $550 on May 11 after peaking near $640 on May 9. The token fell roughly 7% over 24 hours, briefly dipped below $550, and then recovered slightly to around $555. Despite the pullback, ZEC stayed up about 33% over seven days after a $25M funding boost involving firms such as a16z. Proponents expect a potential parabolic rally in 2026, while critics warn that shielded pool liquidity could limit upside. ZEC’s market capitalization fell to just under $10 billion but it remained the largest privacy coin by market cap. Renewed interest follows earlier turmoil, including mass development team resignations tied to a governance dispute, which had triggered a sharp sell-off.

Read at news.bitcoin.com