Der Preis von Zcash erfährt starke Abwärtsdruck aufgrund interner Probleme innerhalb des Hauptentwicklungsteams. Diese auf Vertraulichkeit ausgerichtete Kryptowährung verzeichnete einen starken Rückgang, während das Vertrauen der Investoren schwand.
Parallel dazu deutet das Marktverhalten auf eine mögliche Kapitalumstellung von Zcash zu Monero hin. Man kann sich daher jetzt fragen, ob XMR von der zunehmenden Unsicherheit rund um ZEC profitieren könnte.
Die Entwickler von Zcash treten zurück
Electric Coin Company CEO Josh Swihart confirmed that the entire ECC team has stepped down following what he described as a "forced resignation." This term refers to situations where working conditions change so drastically that employees have no realistic alternative but to resign.
According to Swihart, the decisions made by the board overseeing the ECC have altered working conditions in a way that compromised the team's ability to operate independently.
"Yesterday, the entire ECC team left after being forced to resign* by ZCAM [...]. We are launching a new company, but we remain the same team with the same mission: to build an unbreakable private currency. It is important to note that the Zcash protocol is not affected. This decision is simply aimed at protecting our team's work from malicious governance actions that made fulfilling the ECC's initial mission impossible," Swihart stated.
Zcash holders are pulling out
ZEC holders reacted swiftly to this announcement. On-chain data shows a sharp spike in selling activity within just a few hours. Nansen reported a significant increase in inbound flows to exchanges, with ZEC balances on exchanges rising by about 7% in 24 hours.
Higher exchange balances generally indicate an intention to sell. This behavior reflects a sudden shift in sentiment among Zcash investors. Confidence quickly eroded as participants reassessed the risks related to the continuity of leadership and development.
Such rapid selling reflects skepticism rather than patience. In the event of a governance shock, short- and medium-term holders often reduce their exposure first. This reaction further intensifies downward pressure in already volatile conditions.
XMR benefits from the decline in ZEC
The capital flows suggest a potential rotation, with investors shifting from ZEC to Monero. Although nothing is yet definitive, indicators show diverging trends between the two privacy-focused coins. Notably, Zcash's Chaikin Money Flow indicator has turned negative, signaling net capital outflows.
During the same period, Monero's CMF has significantly rebounded, reflecting increased capital inflows. These opposing signals coincide with price movements. Zcash's price has indeed dropped by 16.7% and is trading around $398, while XMR's price has risen by approximately 5% over the same period.
The timing suggests investors may be reallocating funds within the privacy sector rather than exiting it entirely. When a project faces uncertainty, capital often moves toward what is perceived as more stable within the same project category.
Is XMR ready for a new all-time high?
Momentum indicators further confirm Monero's positive outlook. Indeed, XMR's Money Flow Index surged in the hours following the announcement regarding Zcash. This indicator measures buying and selling pressure by considering both price and volume.
A rising MFI indicates strong market demand. In Monero's case, this movement reflects buyer conviction. This demand could be explained by investors' desire to gain exposure to privacy coins without facing governance disruptions.
Currently, XMR is trading around $456, about 13.5% below its all-time high of $518.99. Sustained buying pressure could serve as a catalyst. If capital continues to flow into XMR at the expense of ZEC, Monero could gain the momentum needed to challenge its previous peak.
