Zcash Price Slides 40% as Market Sell-Off and Regulatory Pressure Mount
Zcash (ZEC) price has declined for 8 consecutive days, dropping approximately 40% and currently at $245. This represents a 53% decrease over the past month and a 65% drop from its November high of $699. The decline is attributed to three main factors: a broader crypto market sell-off that liquidated over $1.6 billion, the resignation of the Electric Coin Company's main development team raising concerns about the project's future, and increased global regulatory scrutiny on privacy coins. Recently, Dubai's financial regulator banned Zcash from all licensed exchanges and financial institutions within the Dubai International Financial Centre. Technical analysis indicates ZEC is nearing a critical support breakdown, which could signal further bearish control.
TheNewsCrypto02/05 11:15
