Zcash (ZEC) Price Slips Below $1,000 Ahead of Vote on 50,000 ZEC Treasury Cut

TLDR

ZEC traded near $979, down 3.7% in 24 hours and over 25% in a week.
A draft proposal would remove 50,000 ZEC, about 53.4% of the grants treasury’s ZEC.
Community polling on the plan runs from November 16 to November 30.
Grayscale’s ZCSH fund saw nearly $30 million in November outflows.
About $18 million in ZEC liquidations hit traders, mostly longs.

Zcash (ZEC) traded near $979 on November 12, down 3.7% in 24 hours and over 25% this week. The drop comes as holders prepare to vote on removing 50,000 ZEC from the network’s grants treasury.
ZEC moved between $950 and $1,020 during the session, according to crypto.news data. Bitcoin stayed mostly flat near $73,700 over the same period.
The decline reverses much of last week’s rally. On November 6, ZEC climbed above $1,370, and analysts marked $1,350 as a key resistance level.
Analyst Altcoin Sherpa said he expects Zcash to form a possible bottom between $800 and $900 before trying another recovery. That range sits well below where ZEC trades now.
Draft Proposal Targets Grants Treasury
A draft Zcash Improvement Proposal by Sean Bowe, Zooko Wilcox and Jason McGee was merged into Zcash’s specifications on November 11. It would remove 50,000 ZEC from Zcash Community Grants (ZCG) and end its 8% share of new block rewards.
According to The Defiant, ZCG’s dashboard showed 93,657.47 ZEC in a November 7 snapshot. The proposed removal equals about 53.4% of that balance, worth roughly $49 million at current prices.
The removed coins would be credited to the Network Sustainability Mechanism, which returns value through future block rewards. The authors point to ZEC’s price rise as the reason to shrink the treasury while keeping the grants program running.
ZCG’s 8% stream would instead flow into a new Future Dev and Legal Defense Fund Lockbox until the third halving. The lockbox could not spend anything until a separate proposal sets withdrawal rules.
Grayscale is also directing money toward the ecosystem. On November 10, it said it would send 100% of sponsor fees from its Zcash ETF, ZCSH, toward development and education for up to one year.
The firm has already awarded $400,000, split equally among the Zcash Foundation, Shielded Labs, Project Tachyon and Pretty Good Policy for Zcash. Still, ZCSH recorded nearly $30 million in net outflows in November through the 11th, per SoSoValue.
Zcash Price on CoinGecko
Leverage and Chart Levels
Leveraged traders have taken losses during the slide. CoinGlass data showed about $18 million in ZEC liquidations over 24 hours, with long positions making up roughly 72% of the total.
Open interest stood near $2.12 billion. The taker buy/sell ratio of 0.96 showed market sell orders outpacing buy orders.
On the daily chart, ZEC trades below its 20-day moving average of $1,206.82 and its lower Bollinger Band at $1,005.11. Immediate support lies between $960 and $980, followed by $900 and then $800.
Crypto Patel took a more bearish view, telling traders to take partial profits and set stop-loss orders on the rest. He flagged a possible move toward the $500 to $200 region, though that remains a speculative scenario.

$ZEC JUST CRASHED 41% | DID YOU CATCH OUR TOP SHORT CALL FROM $1,700?#ZEC has now dropped below $1,000.We caught the entire bearish move from $1,700 to $980, delivering almost 42% profit without leverage.
That’s what happens when you respect market structure instead of… https://t.co/sh4Fb3PyQR pic.twitter.com/sVCV0i0Q92
— Crypto Patel (@CryptoPatel) November 11, 2026

The 14-day RSI sat near 34, close to the oversold mark of 30. A recovery would first need ZEC to reclaim $1,005 to move back inside its Bollinger Bands.
The selling follows the November 6 NU7 upgrade, which cut the target block time from 75 seconds to 25 seconds. The upgrade also changed limits on shielded transactions.
Polling on the treasury proposal begins November 16 and runs through November 30. Participants can support, oppose or abstain on each option, including keeping ZCG unchanged.
If organizers find rough consensus, engineers and miners would still need to agree on a date for a network upgrade called NU7.1. Separately, Zcash’s next community funding proposal window closes November 13.
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