ZEC Token Drops 5.83% as Electric Coin Company Team Resigns, Market Watches NU7 Upgrade

ZECUSDT experienced a notable price decline in the last 24 hours, falling 5.83% from a 24h open of 400.14 to a current price of 376.83 on Binance. The main drivers of this price movement include the recent mass resignation of the Electric Coin Company development team following governance disputes, which led to increased uncertainty and a surge in selling volume across major exchanges. This development has prompted significant market reactions, including bearish sentiment and heightened volatility, although some large investors reportedly entered during the dip. Trading volume remains elevated, with the latest figures reaching up to $1.48 billion on certain platforms, and Zcash's circulating supply stands at approximately 16.48 million out of a maximum 21 million. The market is closely monitoring further updates on Zcash’s roadmap, especially the anticipated NU7 upgrade.