Zcash Price Under $900: What Is Driving the Latest Sell-Off?
Zcash Price Today: Can the Upcoming Vote Change Market Sentiment?
The Zcash price today sits near $891, almost 9% lower than 24 hours ago. The drop lands days before a vote that could change how the network pays for its own development. The Zcash network now faces its latest performance figures, fund outflows and a proposal that has sparked debate among $ZEC holders.
Zcash Price Today: ZEC Slips 8.94% to $891 While Bitcoin Falls 6.97%
$ZEC token price today sits below $900 after opening the day near $983. Current figures from CoinMarketCap as of November 13:
Price: $891.55, down 8.94% in 24 hours
Market cap: $15.12 billion, down 8.99%
24-hour volume: about $954.7 million, down 16.88%
Fully diluted value: $18.71 billion
Supply: 16.96 million ZEC circulating, with a 21 million cap
Bitcoin lost 6.97% over the same period, so ZEC fell harder than the broader crypto market. Closed leveraged long positions and coins moving to exchanges added to the pressure.
The ZEC price drop also follows a loss of roughly 25% over the past week, which briefly pushed the token under $1,000. Calling that a Zcash price crash overstates a single session, though the weekly slide is harder to dismiss.
Zcash Spot ETFs Outflows Added More Pressure on the Price
Part of the extra selling has come through funds. Zcash spot ETFs, led by Grayscale’s $ZCSH, recorded about $14.61 million in net outflows on November 11, the largest daily exit since mid-October.
Source: SoSo Value
Outflows continued the next day. On November 12, ZCSH recorded another $9.88 million in net outflows, while total net assets fell to $526.36 million. November’s withdrawals have now reached tens of millions of dollars.
Context matters here. Some days in late September and early October saw exits near $30 million, and cumulative net inflows still stand around $191.73 million since the August launch.
Redemptions at a fund can force the sale of the underlying coins, so even a modest outflow adds to supply at a time when buyers are scarce. Profit-taking after the rally and a weak market likely fed the same cycle.
What the Zcash Community Grants Treasury Vote Would Change Next?
Part of the weakness may trace back to the treasury debate. From November 16 to 30, ZEC coin holders and community panels will take part in a non-binding poll. The Zcash governance vote measures “rough consensus” on the future of grants funding.
The lead proposal comes from co-founders Sean Bowe, Zooko Wilcox and Jason McGee. According to a summary of the draft, it would:
Move about 50,000 $ZEC, roughly 55% of the Zcash Community Grants treasury’s ZEC, into the Network Sustainability Mechanism, which releases coins slowly as future mining rewards
End the program’s automatic 8% share of new block issuance
Send that stream to a locked Future Dev and Legal Defense Fund, with no spending until later governance decides
Leave the grants body about 41,000 $ZEC plus cash to keep issuing grants
Other ballot options include dissolving the program, keeping the status quo or redirecting it toward adoption.
No source shows the vote causing the spot ETF redemptions, since polling has not opened. The treasury grew sharply during the earlier price rally, though, and uncertainty over its fate has added to the cautious mood.
Zcash Network Upgrade 7.1 and the Next Steps
Organizers plan to publish results shortly after the poll closes. If one idea reaches consensus, backers intend to support Zcash Network Upgrade 7.1 to put it in place. No activation date exists yet.
The earlier NU7, which introduced the sustainability mechanism, went live around November 6. Until then, the 8% funding continues and the grants body keeps operating. Voters need ZEC in a supported self-custody wallet.
The next two weeks will show how much of this slide was market noise and how much was governance anxiety. A clear vote result and a dated upgrade could settle the funding question. A split outcome would leave it open into 2027.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Crypto markets carry significant risk. Always do your own research before making any investment decisions.
