Zcash falls 7% as privacy coins slide while Monero gains

Key points

• Zcash fell from more than $1,250 to $1,125 before rebounding to $1,170, a 7% daily loss.
• Liquidations on Zcash reached $14.6m, with long positions making up $12.5m of the total.
• Monero rose from $608 to about $625, extending its 90-day gain to more than 75%.

Privacy coins fell on 3 November as Bitcoin slid toward $76,000, with Zcash leading the decline, Bitcoin.com News reports. ZEC dropped from more than $1,250 to $1,125, briefly showing a 24-hour loss above 10%, before rebounding to $1,170 and closing the day down 7%. The move triggered $14.6m in liquidations on the privacy coin, of which $12.5m came from wiped-out long positions.

Other privacy assets also weakened. Near Protocol fell nearly 7% to $3.85, Dash slipped from more than $48.25 to $45.81 and Railgun dropped to an intraday low of $2.10 from $2.29. Several microcap privacy coins lost between 2% and 5% over 24 hours.

Monero bucked the trend, climbing from $608 to around $625 for a gain of nearly 3% and extending its 90-day rally past 75%. Zano rose almost 8% to $3.32, while Beldex and Horizen posted smaller gains. The split came as SMC Researchers published a report on the sector's adoption, liquidity problems and regulatory pressure.

The report said darknet marketplace shutdowns helped drive privacy coin adoption, particularly Monero, and that delistings by OKX in late 2023 and Binance in early 2024 cut trading access.

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