๐ Zcash ( $ZEC ): When the Dev Team Leaves and the Coin Drops 20%
Market capitalization: $780 million.
Zcash is the cryptocurrency for those who value privacy above all! Using zk-SNARKs technology (zero-knowledge proofs), ZEC enables absolutely confidential transactions, hiding the sender, recipient, and amount.
๐ก But here's the main news: In early January, the entire crypto world exploded with news โ the entire Zcash development team (~25 people) left Electric Coin Company (ECC)! Former CEO Josh Swihart announced on January 7 that the departure occurred due to a governance conflict with parent nonprofit Bootstrap.
What does this meanโ
๐ฃThe team accused Bootstrap's board of directors of creating "unacceptable working conditions," leading to mass resignations โ this is classic "constructive dismissal"!
๐ฃThe market reacted instantly: ZEC crashed approximately 20% in one day on January 8 โ the sharpest drop among major cryptocurrencies that day!
๐ฃDespite the drama, Swihart emphasized: the Zcash protocol remains "fully operational," and the team will create a new company to continue development.
๐ฃBright news: Josh Swihart launched a new startup wallet cashZ, the waitlist is already open! The team is fully committed to Zcash and aims to scale it to billions of users.
๐ฃThe transition from a nonprofit structure to a startup will allow attracting venture capital and expanding efficiently โ startups can scale, nonprofits cannot!
Trading Guidelines:๐๐
๐ Growth above $450 โ could open the path to $520.
๐ Drop below $380 โ risk of further decline to $335.
Conclusion:
Yes, ZEC is experiencing a governance crisis, but the fundamental foundations of the protocol remain strong. The team isn't leaving the project โ they're simply changing the organizational form for more effective development. History shows that such upheavals often become catalysts for revival!
๐ Open trade with $ZEC
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