Zcash (ZEC) has recently fallen into trouble. Due to the departure of the core development team, this privacy coin has dropped over 9% within 24 hours, with the current trading price hovering around $435.

The trigger for this turmoil was the governance dispute between Electric Coin Company and the Bootstrap Foundation, which ultimately led to the entire ECC team resigning collectively. This sudden event has triggered obvious panic in the market—ZEC balances on exchanges increased by 7%, indicating that a large number of holders are fleeing, and selling pressure has significantly intensified.

From a technical perspective, the situation is also not optimistic. ZEC has broken below the psychological threshold of $500, with key support now in the $397-$400 range. If this line of defense is also breached, there may be further downside space. Investor confidence has been noticeably impacted, and the overall market shows a clear bearish attitude.

Such events often experience a lag period of information dissemination, but as details gradually emerge, market reactions tend to become more intense. For traders focusing on ZEC, it is important to remain vigilant against downside risks and to monitor whether support levels can be effectively defended.