- Zcash price plunged 25% within 24 hours, wiping out more than $3 billion in market value amid large-scale liquidations.
- Speculative liquidations and profit-taking triggered the crash.
- Despite a record number of shielded ZEC in circulation, the token remains under pressure.
Zcash price dropped more than 25% over the past 24 hours, breaking the psychologically important $500 level.
In heavy trading that pushed daily volume up by roughly 150%, Zcash fell to an intraday low of $476 before a sharp rebound erased much of the losses and lifted ZEC up to an intraday high near $744.
Privacy coins, including Dash, mirrored the sector-wide move led by major tokens.
Zcash Price Plummets 25% Below $500
On November 11, Zcash traded near $484.
At the time of writing, the price had recovered from the $476 low but remained about 25% below the intra-day highs that briefly exceeded $600.
The drop below $500 and the threat of further downside stands in stark contrast to the asset’s surge to around $744 only days earlier.
The Zcash price chart.
Investors had been attracted by visions of ZEC reaching $1,000, pouring billions of dollars into the market.
That interest drove trading volumes to unprecedented levels. The rally also reflected broader altcoin enthusiasm, pushing Zcash ahead of established projects such as Stellar and Bitcoin Cash in market cap rankings for a time.
However, profit-taking and frantic sell orders sent daily trading volume up 156%, topping $514 million as traders exited positions.
On-chain metrics show some outflows from shielded ZEC pools. CoinMarketCap lists Zcash’s market capitalization at about $789 million, and network data indicate shielded pool transactions fell from near 5,000,000,000 to roughly 4,840,000 transactions.
Zcash Price: What’s Next?
From a technical perspective, the 4-hour chart shows a bearish double-top pattern.
Price sits below the 50-period exponential moving average, and the RSI hovers near 39, suggesting there may be room for further downside.
Arthur Hayes, a prominent supporter of Zcash’s recent rally, summarized investor sentiment in a post on X, reflecting the uncertainty between holding and selling.
To sell, or not to sell, that is the question. $ZEC to $10k or $10 ?????????? 🧐🧐🧐🧐🧐🧐🧐 pic.twitter.com/hOgcx5iILc
— Arthur Hayes (@CryptoHayes) November 11, 2025
At the heart of the turbulence is the intersection of speculative liquidations, structural factors and external market pressure.
Zcash’s rebound from roughly $40 in early September to near $750 in early November was driven by a combination of halving expectations, capital rotation and renewed interest in privacy narratives.
However, whales began deleveraging sizable positions around November 9, and profit-taking amplified the subsequent decline.
Macro developments in the U.S.—including shifting expectations for fiscal stimulus, the end of a government shutdown and renewed enthusiasm around staking tied to ETFs—have helped stabilize the broader crypto market.
Bitcoin briefly surged past $105,000, driven by gains in the largest token, while ZEC’s dramatic moves injected caution into market sentiment.
ZEC could regain momentum after the halving, especially if renewed interest in privacy-focused coins returns. Conversely, a decisive reversal in Bitcoin could trigger further outflows from the sector and deepen the correction.
In the short term, key downside areas to watch range between $400 and $300.
As of writing, bulls hope for a rebound from around $470, while the immediate EMA resistance sits at approximately $530.94.