Zcash (ZEC) Dips Below $1,000 as ETF Outflows Accelerate

Zcash (ZEC) has fallen under $1,000, reaching its lowest point since early September. BeInCrypto Markets data places ZEC at $982.12, a 25.22% decline over the past week.

The downturn has come alongside outflows from Zcash ETFs, even as Grayscale research highlights a growing developer community.

Zcash ETF Outflows Intensify in November

U.S. spot Zcash ETFs saw $14.61 million exit on November 11, based on SoSoValue data. That marked the biggest single-day outflow since October 15.

Money has flowed out of the funds on six of the past nine trading sessions. Consequently, November net outflows have reached $29.78 million. Net assets have also declined to $562.16 million, the lowest figure since September 4.

This represents a rapid shift from late October, when Zcash ETFs recorded their strongest weekly inflows since mid-September.

The outflows occurred during a week when ZEC fell further than the biggest cryptocurrencies.

Zcash Falls Faster Than Bitcoin and Ethereum

Zcash's 25.22% weekly decline is about three times Bitcoin's 8.49% drop. Ethereum shed 15.45%, roughly 10 percentage points less than ZEC.

By comparison, Monero, another prominent privacy coin, decreased by 10.41%. That smaller drop suggests pressure is focused specifically on Zcash.

Grayscale's latest research, released November 10, examines a different network metric: the number of developers contributing to it.

Zcash Developer Count Continues Rising

According to Grayscale's research, Zcash's monthly active developer count has roughly doubled over two years. The broader crypto developer pool contracted during that time.

Approximately 70% of Zcash's active developers have more than a year of crypto experience, compared with 58% across the industry.

The firm argued this momentum could eventually boost ZEC's value. However, the ZEC price has moved in the opposite direction thus far.

In the short term, traders are monitoring whether ZEC can reclaim the $1,000 level it recently lost.

Can Zcash Regain $1,000?

Analyst Daan Crypto Trades noted that ZEC has continued sliding after losing the $1,000 area.

“There is a big liquidation cluster on Hyperliquid in the $800-$900 area. This lines up nicely with the previous consolidation, Fibonacci level and Daily 200MA/EMA,” he said.

Daan indicated that a wick into that zone would lead him to look for long positions. His target is modest: a relief bounce toward $950 to $1,000.

A daily close above $1,000 would put ZEC back above that lost threshold. The next resistance sits near $1,100, the bottom of its October range.

ETF flows represent the other signal to monitor. A return to inflows would indicate fund investors are re-entering.