Zcash (ZEC) has fallen to $980 as of November 12, extending a weekly decline of more than 26% amid heavy selling pressure. The privacy cryptocurrency has broken below the $1,000 psychological support level, marking its lowest point since September. The selling intensity reflects broader market weakness affecting large-cap altcoins.

Grayscale's Zcash ETF (ZCSH) has faced significant outflows, with $46.25 million leaving the fund during October and approximately $30 million withdrawn through November 11. Despite Grayscale committing $1 million to support Zcash ecosystem development and launching a nationwide marketing campaign, the initiatives have failed to reverse the selling pressure.

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