The price of zcash (ZEC), a supply-capped, shield, layer-1-1 coin focused on user privacy, fully recovered following a crash on the Friday market, forming a new recent high of about $ 291 on Saturday before retracing at nearly $ 273 at this time of writing.
Zcash fell 45% on Friday, falling from a high $ 273 to $ 150, following a social media post from US president Donald Trump Announcing 100% tariffs in Chinawho sent crypto markets to a meltdown.
ZEC has just dropped about 5.5% from recently -only high, making a market crash standout. Many cryptos still decrease double numbers from their recent highs, including Ether (Eth), which has dropped about 22% from recently and all times high $ 4,957.
Prior to the collapse of the market, ZEC went to a meteoric price rally, rising from $ 74 on October 1 to $ 291 on Saturday – an increase in price of nearly 4x to less than two weeks.
The Crypto market has experienced the most serious event of extermination of its history on Friday after Trump’s tariff announcement, which caused $ 20 billion in liquids Within a few hours of his social media post, leaving a lot of merchants Nabangang with markets.
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US president Donald Trump has crashed in markets with two social media posts
Trump markets crashed with two social media posts only Friday, signed the global The trade war is back.
At first he PostHe said the expanded control of the Chinese government’s exports to rare mineral soils, essential to the production of tech and industrial equipment used in the mineral refinement process, is “very irritating” and “clog” global trade.
More than 90% of rare minerals in the world and rare soil magnets used in power batteries, computer chips, consumer electronics, and military defense systems come from China, according to Reuters.
“I will meet President Xi for two weeks, at APEC, in South Korea, but now there seems to be no reason to do so,” wrote Trump, who encouraged the fears of reigning an extended trade war. The same fear Wiped the trillion of the dollar From the capital markets in April.
Trump followed post hours later announcement An additional 100% tariff on all goods from China, which is set to take place on November 1, 2025, or earlier.
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