Zcash Falls 7% as Grayscale ETF Sees Outflow
Zcash (ZEC)
Editor:
Eugene Serbin
cvj.ai reports that Zcash has dropped 7.29% to $1,333.50, pulling back from its late-September peak of $1,698.00. This decline follows a $30.25 million net outflow from Grayscale’s Zcash ETF (ZCSH) on September 30. The fund had previously attracted $233 million in inflows since launching on August 25, but cumulative net inflows now stand at nearly $268 million.
A 3-for-1 share split took effect that same morning, which may have prompted some investors to adjust their positions. Sentiment is also weighed down by the Bitget hack, where hackers stole approximately $387 million from the exchange. Blockchain investigator ZachXBT flagged 2,746 ZEC, worth about $3.9 million, moving into Zcash’s shielded pool from hack-linked addresses.
Bitget’s CEO stated the attack is consistent with North Korean hacker groups, though attribution remains pending. Despite the drop, technical indicators suggest the broader uptrend remains intact. The Relative Strength Index sits at 50.2, indicating neutral momentum after previous overbought readings. A daily close below $1,233.00 would put the golden zone in play, while reclaiming $1,410.72 would keep the run on track.
How the market reacted
Whalio's own Binance spot order flow for ZEC, measured when this story was written up on 2 October 2026. Not the outlet's figures.
Zcash is currently trading at $1,335.56 with a 1-hour buy ratio of 37.6% and a 4-hour buy ratio of 39.0%. These short-term figures are lower than the 24-hour buy ratio of 43.6%, indicating that buying pressure is fading in the immediate term. The volume delta shows net selling of $1,726,932 over the last hour and $6,471,348 over the last four hours. Over the past 24 hours, the volume delta is -$30,390,011, with a Cumulative Volume Delta of -$21,363,169 at the close. This means that sell volume has consistently exceeded buy volume across these timeframes. Only 8 of the last 24 hours saw net buying activity.
The latest daily buy ratio of 52.9% sits at the 82nd percentile of the last 322 days, against a median of 50.2% - stronger buying than most days.
Was that an ordinary day?
The same Binance spot measurements for ZEC, averaged over the days leading up to the story.
The 24-hour buy ratio of 43.6% is 6.7 percentage points below the 7-day average of 50.2%. Volume over the last day was 0.82 times the average daily volume, suggesting a quieter trading session than usual. Net buying occurred on only 3 of the past 7 days, compared to the 8 hours of net buying seen in the last 24 hours. The price has changed -13.6% over the last 8 days, with a total volume delta of -$22,514,056 for the period. This marks a continuation of the downward trend observed over the preceding week.