ZEC Token Slides 5.98% Amid Regulatory Scrutiny and Strong Binance Trading Volume

ZECUSDT experienced a notable decline of 5.98% over the past 24 hours, with the current price at $380.39 on Binance, down from a 24h open of $404.57. This price drop is primarily attributed to profit-taking after recent rallies and increased caution among traders as Zcash navigates ongoing regulatory scrutiny and market volatility. Institutional interest remains supportive, driven by diversification strategies and Grayscale's endorsement, but concerns over stricter future regulations and short-term bearish sentiment have weighed on the price. Market activity remains strong, with 2,037,161 trades and a 24-hour trading volume of 138.75 million USDT on Binance, while Zcash maintains a circulating supply of about 16.44 million ZEC and a market capitalization near $6.58 billion. Recent technical signals are mixed, with increased buyer activity and ZEC holding above key moving averages, but sentiment is cautious due to regulatory developments and inability to sustain levels above $400.