ZEC Surges 9% After ECC Team Resignation Sparks Volatility—Is a Bullish Reversal Underway?

Zcash (ZEC) experienced significant volatility following the recent mass resignation of the entire Electric Coin Company (ECC) core development team due to governance disputes, particularly regarding the commercialization of the Zashi wallet and operational control. This event led to a sharp decline in investor confidence and a notable price drop earlier in the week. However, over the past 24 hours, ZECUSDT saw a rebound, with the price rising approximately 9% to $411.04, supported by a strong trading volume of $647.91 million. The recent positive price movement is attributed to a local recovery after initial panic selling, with technical indicators signaling a potential short-term bullish reversal. Zcash currently ranks #18 by market capitalization, which stands at $6.77 billion, and remains under close watch by traders following heightened volatility and ongoing uncertainty about the project's future development.