Zcash Drops Out of Top 10 as ZEC Falls 14% Below $1,000
ZEC fell roughly 14% over November 10-11 and slid to number 11 by market capitalization, with liquidations and Grayscale Zcash Trust outflows cited as contributors. Sources differ on the exact price, with one reporting a close near $1,045-$1,094 and another putting ZEC near $975 at the time of writing.
Written by CoinArticle’s AI Newsroom · from 2 cited sources. How we work
The Selloff and Ranking Change
Zcash (ZEC) lost roughly 14% over the November 10-11 session and fell from the top 10 cryptocurrencies by market capitalization to number 11, according to Crypto Briefing. Sources disagree on where the price settled: Crypto Briefing reports lows between $963 and $1,000 with a close around $1,045 to $1,094, while CryptoPotato, citing CoinGecko, puts ZEC near $975 and says its market capitalization fell to about $16.6 billion. Crypto Briefing's market cap estimate of $16.5 billion to $17 billion is consistent with that range, but the two outlets do not agree on the closing level.
The ranking change followed Hyperliquid (HYPE) overtaking Zcash, per CryptoPotato. Trading volume topped $1.3 billion over 24 hours in Crypto Briefing's figures.
Leverage and Liquidations
Derivatives positioning amplified the move. Crypto Briefing reports more than $16.5 million in positions liquidated within a single day, with roughly 88-89% of them long. A liquidation occurs when an exchange force-closes a leveraged position after the price moves against the trader.
CryptoPotato describes a single large trader who opened a 10x long on 18,000 ZEC, worth about $17.63 million, and who faces a loss above $2.8 million on paper. That position would be liquidated near $895 unless additional collateral is posted. The two outlets are describing different data points, so the liquidation totals should not be combined.
Network Upgrade and Institutional Flows
The backdrop is Network Upgrade 7 (NU7), which activated on November 6 and cut block times from 75 seconds to 25 seconds, according to Crypto Briefing. ZEC rose to roughly $1,300-$1,380 around activation before reversing, a pattern Crypto Briefing describes as buy-the-rumor, sell-the-news profit-taking.
Grayscale Zcash Trust (ZCSH) recorded outflows exceeding $15 million in November, per Crypto Briefing. CryptoPotato reports that Grayscale said it will reinvest 100% of its ZEC ETF sponsor fees into Zcash development, marketing, community and education. Neither outlet links that pledge to the trust outflows.
Indicators and Analyst Views
CryptoPotato reports the 14-day Relative Strength Index at 29, which is just below the conventional oversold threshold of 30, and notes exchange outflows have exceeded inflows in recent days. Analysts quoted by CryptoPotato disagree sharply on direction: one expects a bottom between $800 and $900, while another suggests taking half of profits and sees a possible decline to the $200-$500 range. These are individual views rather than consensus.
Crypto Briefing notes there were no reported security incidents or technical failures during the decline. Its figures put circulating supply near 17.04 million ZEC against a 21 million cap, and about 29% of supply sat in shielded pools as of early November.
What to Watch
Crypto Briefing flags three items: whether volume stays elevated, how quickly derivatives leverage rebuilds, and whether Grayscale trust outflows continue through November.
Why It Matters
For Traders
Crowded long positioning and a liquidation level near $895 mean further sharp moves are possible in either direction while leverage remains elevated.
For Investors
Sustained Grayscale trust outflows would signal that larger holders are reducing exposure even after a privacy-focused upgrade, a trend worth tracking across the next several weeks.
For Builders
Block time falling from 75 to 25 seconds changes confirmation expectations for applications settling on Zcash, so integrations should re-test timing assumptions.
This article is for information only and is not financial advice. Read the full disclaimer.
