The anonymous currency project Zcash recently suffered a severe blow, with a sudden drop of 28%, causing a huge impact on the market. This plunge was not driven by macroeconomic factors, but rather by a serious internal governance collapse within the project's core development company ECC. $SOL $XRP $BNB

On the 8th, local time, ECC management and the entire core development team announced their intention to resign. They have long-standing irreconcilable differences with the Bootstrap board of the Zcash Foundation. The disagreements are significant in wallet strategy and the implementation of the privacy-first roadmap, with a huge gap in risk perception, leading to a breakdown of trust and making continued cooperation impossible.
Following the news, market panic spread, ZEC prices plummeted, large-scale liquidation of long positions occurred, and short positions surged. Although foreign media suggest that the dispute may not be catastrophic, the market generally views the loss of core developers as a major negative signal.
The resigning ECC core members will establish a new entity to continue advancing the technology, but industry experts worry that issues such as delays in the roadmap and loss of community coordination will follow. Whether Zcash can mend its governance crisis will determine its future survival. Analysis is difficult; please follow, bookmark, like, and comment to stay updated on the developments!