What Happened to Zcash in One Sentence?
Board dispute → leadership exits → public uncertainty → price whiplash → quiet recovery.
Zcash didn’t collapse because of tech failure – it hit the rare combination of governance conflict + narrative shock + coordination breakdown, which in crypto is often more destabilizing than product risk.
The sequence looked almost scripted:
the asset drifts sideways, suddenly rallies ~2,000% in a short window, then the core team resigns amid internal disagreements and public FUD – only to see price rebound again as the market digests that nothing fundamental about the protocol itself actually broke.
If there’s a takeaway here, it’s that crypto assets don’t just react to fundamentals or speculation – they react to governance coherence.
Zcash’s wild swing was less about privacy tech and more about organizational signal, and once the dust settled, the market re-priced accordingly.
In a sector where code is open-source but leadership is scarce, governance misalignment becomes the biggest source of volatility.
