Zcash (ZEC) fell to a two-month low of $962.85 on Wednesday, a day after Grayscale pledged $1 million to nonprofits and projects supporting the Zcash network.
As of 12:20 pm UTC Wednesday, Zcash’s 13.5% drop led 24-hour losses among the 100 largest cryptocurrencies by market capitalization and was down 24.5% over seven days. The decline was part of a broader crypto sell-off that left Bitcoin (BTC) down 5.8% and Ether (ETH) down 11.6% over the same period, according to CoinGecko.
Crypto prices fell further Tuesday after US consumer prices rose 0.4% in October from the previous month, above economists’ 0.3% forecast.
Zcash lets users send shielded payments that keep sender and recipient addresses and transaction amounts out of public view.
Zcash helped drive this year’s rally in privacy coins, gaining 138% in the 30 days to Sept. 7. It remains the largest privacy coin by market value, accounting for about 60% of the $28 billion…
