Zcash (ZEC) dropped 19% on the day following the resignation of its core developer team, a move that came amid a broader market sell‑off as Bitcoin slipped below $90,000. Other major cryptos also fell, with Bitcoin at $89,900, Ethereum at $3,100 and Solana at $134.
The departing developers cited a dispute with the board, but said they will establish a new company to carry on Zcash’s development roadmap and privacy mission.
The abrupt leadership change and the steep price decline underscore uncertainty for the project’s short‑term outlook, while the promise of a new entity aims to reassure investors and sustain the network’s long‑term growth.