Zcash Tanks Double Digits After 'Meteoric Rise' Sees Leverage Build Up
Zcash fell 11% in 24 hours, despite remaining up 460% from its March lows. CoinShares researcher Luke Nolan attributed the decline mainly to a broader pullback after a steep rally, amplified by leveraged trading; $17.9 million in Zcash long positions were liquidated. Other commentators linked the losses to concerns that AI advances could threaten cryptographic security, especially for privacy protocols. Zcash developers say they aim to make the network quantum- and AI-resistant by January, though implementation remains ahead. Analysts also see rising demand for on-chain privacy as traditional finance adopts blockchain. A proposed French law requiring disclosure of crypto holdings above €100,000 has drawn backlash, but Nolan said it likely had little effect on Zcash’s decline.
