This week was devastating for Zcash (ZEC), a top-tier privacy-centric cryptocurrency. As Electric Coin Company (ECC) is not observing protocol development any longer, the entire privacy coin rally narrative is under fire.
Zcash (ZEC) price erased 26% in just a week, Cardano's Midnight (NIGHT) also bleeding
Zcash (ZEC), the second biggest privacy-centric cryptocurrency, is amid the worst performers this week. Zcash's (ZEC) price lost almost 26% in seven days, plummeting from $432 to $378. As of today, ZEC is almost 50% below its 2025 high.
In terms of capitalization, the market cap of Zcash (ZEC) — which is equal to FDV of the coin as all ZEC in circulation are released — dropped from $8.3 to $6.2 billion, losing over $2 billion in equivalent in just seven days.
As covered by U.Today previously, Zcash's (ZEC) collapse should be attributed to the resignation of the developers behind Electric Coin Company (ECC), its core protocol contributor.
The entire team resigned following debates over protocol governance and the next steps of its progress. While it was stressed that nothing changed for Zcash (ZEC) in terms of tech, the unexpected transition ruined the rally of ZEC.
Cardano's privacy spin-off Midnight Network (NIGHT) is another worst performer of the past seven days.
Privacy rally over? Segment sends mixed signals
Midnight Network's (NIGHT) price is down by 26%. NIGHT dropped from $0.09 to $0.068, with the asset's capitalization targeting $1.1 billion. NIGHT is on the verge of losing its place in the top 100.
Meanwhile, Monero (XMR), the biggest privacy-focused blockchain, registered strong weekly performance. XMR's price added 8.3%.
Monero (XMR) is changing hands at $464 on major spot exchanges, the token is back in the top 25 largest cryptocurrencies.
Vladislav Sopov
Tomiwabold Olajide
Caroline Amosun
Denys Serhiichuk