Zcash Drops 21% From Recent High—Heres Why the Rally May Not Be Over
In briefZcash trades at $1,333.50, down 7.29% on the day and about 21% below its $1,698.00 peak, after climbing roughly 253% from a $480.72 base.Grayscales Zcash ETF recorded a $30.25 million net outflow on Sept. 30, against $268 million in cumulative net inflows since launch.Its a rough stretch, but the charts suggest ZEC still has room to run. Zcash is having a rough Thursday. ZEC is trading at $1,333.50, down 7.29% on the day, with about three hours left before the daily candle closes. That puts the privacy coin roughly 21% below the $1,698.00 peak it hit in late September. It also shows how far ZEC had run: the coin climbed about 253% from a $480.72 base to that high. Myriad: Where does XRP go next? Click to make your prediction. The wider market isnt offering a lifeline. Bitcoin spiked to $85,600 on Wednesday after softer-than-expected PCE inflation data, then quickly gave it back. The 10-year Treasury yield closed at 5.29%, and the odds of an October Federal Reserve rate hike have fallen from 70% to below 50%, according to CME FedWatch. Start with the ETF money. Grayscale launched its Zcash ETF, ticker ZCSH, on Aug. 25, and it had attracted $233 million in net









