Zcash Price Drops as Grayscale Announces Share Split

Zcash's price fell by about 5% on Sunday to $1,429, ending a streak of consecutive days with double-digit percentage gains.

The drop coincided with Grayscale's announcement that it will apply a 3-for-1 share split to its ZEC ETF, effective September 30. This move lowers the ETF's per-share price but does not change the total value held by investors.

Despite the pullback, Zcash remains up 31% over the past seven days and has climbed more than 200% since June 22, when it traded at $445.