Zcash Loses 70% of Trading Activity in Three Weeks as $200 Slide Accelerates

Reporting by Beincrypto shows Zcash is sinking deeper into bearish territory, down nearly 5% over the past 24 hours and more than 44% over the past month, while still recording year-on-year gains of nearly 700%. The decline followed a head-and-shoulders breakdown completed on January 31; trading activity collapsed after centralized exchange volume peaked on January 9 at over $1.5 billion and fell to about $450 million by February 2, a decline of roughly 70% in three weeks.

Capital-flow indicators have turned negative: the Chaikin Money Flow trended lower since late December and slipped below zero in early February. Exchange reserves surged more than 64% over the past 24 hours and large holders have reduced exposure by more than 35%, while "smart money" wallets increased holdings by around 9% in the same period.

Price has broken below the $289 support zone, with the next meaningful support near $262 and the head-and-shoulders target around $200—implying nearly 30% downside from current levels near $284.