"Zcash sees sharp drop in developer activity over past two months… token price also falls amid governance dispute"
공유하기
Summary
- According to Santiment data, Zcash (ZEC)’s developer activity metric has plunged since November last year, and over the same period the token price fell 40%.
- It noted that, in general, when development activity rises, altcoins tend to stand out in the market, while a slowdown in innovation and improvement efforts often leads to weak price performance.
- It also said Zcash’s governance dispute, ECC’s plan to set up a new company, and development of the cashZ wallet are weighing on broader investor sentiment toward the project.
Network activity for privacy-focused crypto asset (cryptocurrency) Zcash (ZEC) appears to have deteriorated sharply in recent weeks.
On the 9th (KST), crypto news outlet Cointelegraph, citing data from Santiment, reported that Zcash’s developer activity metric has plunged since November last year. Over the same period, the token price also fell 40%.
Santiment explained that “in general, when development activity increases, altcoins tend to stand out in the market,” adding that “conversely, when innovation and improvement efforts slow, it often leads to weak price performance.”
In addition, a governance dispute between Zcash’s core developer Electric Coin Company (ECC) and the protocol-supporting nonprofit Bootstrap is also seen as weighing on overall investor sentiment toward the project.
ECC recently said it would sever ties with Bootstrap and establish a new company, citing “malicious governance actions.” Bootstrap countered that it had merely discussed raising external investment and restructuring plans for Zcash’s dedicated non-custodial wallet, “Zashi.”
Meanwhile, ECC’s development team said it is developing a new crypto wallet, “cashZ,” and plans to launch it within the next few weeks.
![AI, chip stocks rally… Dow, S&P 500 hit new all-time highs [New York markets briefing]](https://media.bloomingbit.io/PROD/news/37cb1f18-76d9-4651-be29-2e4bb84aa999.webp?w=250)
