February 24 News, Privacy coin Zcash (ZEC) has recently been under continuous pressure, with a total decline of over 20% in the past 7 days. As of press time, Zcash is trading at approximately $231, down 28% from this month's high and more than 50% from the beginning of the year. Against the backdrop of waning risk appetite in the crypto asset market, combined with technical and fundamental factors, market participants remain cautious about ZEC's future trajectory.

On the fundamental side, the Electric Coin Company development team previously resigned collectively due to governance disputes with the non-profit organization Bootstrap. Although the incident did not lead to a blockchain fork, and the protocol layer operation of the ZEC token was not directly affected, organizational uncertainty has weakened investor confidence in the ecosystem's long-term development.