Zcash dropped to $1,115 Thursday, wiping out all price gains accumulated since Sept. 16 and driving $38 million in leveraged long liquidations
Key TakeawaysZcash fell to $1,115 on Thursday, sparking over $38M in leveraged long liquidations.ZEC remains up over 120% YTD in 2026 as prominent Monero proponents publicly pivot to buy zcash.Winklevoss Asset Services submitted an SEC filing for a spot zcash ETF (WINK) targeting a Nasdaq listing. Sharp Sell-Off Ends Weeks of Gains Privacy coin zcash (ZEC) dropped below $1,200 for the first time in weeks Thursday as the previously top-performing cryptocurrency surrendered all gains made since Sept. 16. Market data shows that the privacy coin, which traded above $1,330 late Wednesday, initially experienced a sharp drop just before midnight when it shed nearly $70 in just over an hour, dropping from $1,300 to $1,235
After spending a few hours struggling to hold above $1,230, ZEC’s price eventually succumbed to bearish pressure, sliding further until it hit a recent low of $1,115. The privacy coin was still down about 16% on the day
For context, bitcoin and other high-cap altcoins logged losses ranging between 3% and 7%, while rival privacy coin monero (XMR) was down about 4.5% on the day. Despite this, ZEC’s gains since the start of the year remain above 120%, making it one of the best-performing cryptocurrencies in 2026 so far
ZEC’s slide caused the liquidation of about $38 million in leveraged long positions on the cryptocurrency. Overall, nearly $900 million worth of positions have been liquidated across the broader market in the last 24 hours
While the price drop has shaken some investors, long-term supporters remain unfazed, pointing to recent patterns. Data shows ZEC bull runs regularly give way to periods of sustained pressure before rebounding to set new year-to-date highs
In addition to technical signals, high-profile backing continues to bolster sentiment. Crypto investor and prominent Monero proponent “Tulip King” recently revealed on a podcast that ZEC’s outperformance forced him to re-evaluate his privacy thesis
Pointing to ZEC’s relative price strength against Monero, he noted that market signals pushed him to revisit long-held assumptions and ultimately build a substantial position in ZEC while retaining respect for the Monero community
Institutional tailwinds offer another cause for optimism. Winklevoss Asset Services, owned by Gemini co-founders Cameron and Tyler Winklevoss, submitted an S-1 filing with the U.S. Securities and Exchange Commission to launch a spot zcash ETF on Nasdaq under the ticker WINK. The fund, partnered with ecosystem backer Cypherpunk Technologies, proposes holding ZEC directly with a 0.25% fee—a move aimed at undercutting Grayscale’s existing Zcash fund
Winklevoss Asset Services submitted a registration statement to the SEC for a spot zcash ETF under the ticker WINK on…
Winklevoss Asset Services submitted a registration statement to the SEC for a spot zcash ETF under the ticker WINK on…
Winklevoss Asset Services submitted a registration statement to the SEC for a spot zcash ETF under the ticker WINK on…
