Zcash Core Developer Team Resigns, Price Drops 11%
- Developer Team Change: The resignation of Zcash's core developer team due to governance disputes led to an approximately 11% price drop for Zcash (CRYPTO: ZEC) within 24 hours on January 8, negatively impacting investor confidence.
- New Organization Plans: Despite leaving Electric Coin Company (ECC), the departing developers have resolved to form a new entity to continue Zcash-related projects, aiming to develop a new wallet, indicating ongoing commitment to Zcash's future.
- Privacy Coin Value: Zcash remains a privacy coin built on zk-SNARKs technology; despite the uncertainty caused by the developer team's departure, its core value and market demand persist, continuing to provide privacy transaction services to users.
- Stable Supply Policy: Sharing Bitcoin's hard cap of 21 million coins, Zcash's supply policy remains unchanged; despite internal disputes, the increasing demand will likely enhance Zcash's scarcity over time, prompting investors to carefully assess market dynamics.
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Market Implications: Such activities by large holders can influence market trends and investor sentiment in the cryptocurrency space.
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Institutional Withdrawals Impacting Bitcoin: Deutche Bank analysts noted that the decline in cryptocurrencies is largely driven by heavy withdrawals from institutional ETFs, which have recorded billions in outflows since October 2025.
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Bitcoin Market Pressure: Bitcoin has faced significant selling pressure, declining nearly 3% to $73,503, and has dropped over 26% in the past year, reflecting ongoing volatility in the cryptocurrency market.
Disputes Over Stablecoins: A recent White House meeting aimed to resolve ongoing disputes between major U.S. banks and cryptocurrency firms regarding the regulatory framework for stablecoins, with concerns raised about potential financial stability risks associated with incentives for deposits.
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Bitcoin Performance: Bitcoin has fallen by 2.7%, contributing to the overall decline in cryptocurrency values.
