This week has been devastating for Zcash (ZEC), a top privacy-focused cryptocurrency. The entire Privacy Coin Rally saga is under attack as Electric Coin Company (ECC) is no longer overseeing the development of the protocol.
Zcash (ZEC) price drops 26% in just one week, Cardano’s Midnight (NIGHT) also bleeds
Zcash (ZEC), the second-largest privacy-focused cryptocurrency, is among the worst performers this week. Zcash (ZEC) price has fallen almost 26% in seven days, plummeting from $432 to $378. As of today, ZEC is almost 50% below its 2025 high.
In terms of market cap, Zcash (ZEC)’s market cap (equal to the coin’s FDV when all ZECs in circulation were released) fell from $8.3 billion to $6.2 billion, losing over $2 billion in just 7 days.
As previously covered by U.Today, the collapse of Zcash (ZEC) can be attributed to the departure of the developer of its central protocol provider, Electric Coin Company (ECC).
Following discussions regarding protocol governance and the next steps in its advancement, the entire team resigned. Although ZCash (ZEC) emphasized that nothing has changed on the technical side, the unexpected transition has undone ZEC’s rise.
Cardano’s privacy spinoff Midnight Network (NIGHT) also had its worst performance in the past seven days.
Is the privacy meeting over? Segments send mixed signals
Midnight Network (NIGHT) price fell 26%. NIGHT fell from $0.09 to $0.068 and was targeting $1.1 billion in total assets. NIGHT is losing its place in the top 100.
Meanwhile, Monero (XMR), the largest privacy-focused blockchain, posted strong weekly performance. XMR price increased by 8.3%.
Monero (XMR) is toggling at $464 on major spot exchanges, pushing the token back into the top 25 largest cryptocurrencies.
