Zcash Prices Plummet as Market Experiences Correction

Zcash has experienced a significant drop in value over the past day, with its price falling to $1,333.50 and a decline of around 21% from its recent high of $1,698.00.

This comes after the coin climbed approximately 253% from a base of $480.72, indicating that the market is experiencing some correction.

The Grayscale's Zcash ETF has also seen a net outflow of $30.25 million on September 30, while its cumulative net inflows remain at around $268 million since its launch on August 25.

Despite this, chart analysis suggests that the trend for ZEC remains bullish, with indicators such as the Relative Strength Index and Average Directional Index showing a strong upward momentum.