The ZCash situation explained! Interview with ZEC bull Mert! BTC below $90K! ZEC falls 19%!

Cryptocurrency markets came under renewed pressure yesterday as Bitcoin broke below the $90,000 support level, with major tokens declining across the board.

Markets decline across the board

Crypto markets continued their downward trend, with Bitcoin breaking through the critical $90,000 support level. Bitcoin fell 2% to $89,900; Ethereum dropped 3% to $3,100; Solana declined 3% to $134; Ripple saw the steepest losses, falling 7% to $2.08.

Notably, some tokens bucked the trend. LIT, WLFI, and XMR all gained 3%, posting the strongest performance among major crypto assets on the day.

Zcash crashes over 19%

Privacy coin Zcash was the market's biggest casualty, plunging 19% in a single day. Reports indicate the Zcash development team resigned following a dispute with the foundation's board, triggering panic selling. The team had previously committed to continuing project maintenance but ultimately chose to leave. The exodus has shaken investor confidence and sparked a sharp sell-off in ZEC.

The resignation turmoil underscores the fragility of governance structures in crypto projects. Long-standing tensions between the development team and foundation have now erupted into open conflict, prompting the market to question Zcash's future prospects. Investors should monitor developments closely and carefully assess the associated risks.