Zcash fell nearly 15% on Wednesday, dropping below $1,000 for the first time since early September and reaching a two-month low near $963. The decline came despite Grayscale announcing a $1 million commitment to nonprofit organizations and projects supporting the Zcash network. The sell-off was part of a broader retreat in the cryptocurrency market, with Bitcoin down about 5.8% and Ether down roughly 11.6% over seven days. U.S. consumer prices rose 0.4% in October, exceeding the 0.3% forecast and fueling concerns about tighter monetary policy, which pressured privacy-focused coins; their combined market capitalization fell about 7% in 24 hours. Outflows from Grayscale’s ZCSH ETF and technical selling after the $1,000 support level broke added downward pressure, while the recent NU7 upgrade reduced the target block time from 75 seconds to 25 seconds.
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