Zcash Tests Key Support as Monero Gains on Large Purchase Activity

Zcash fell 5% over the past 24 hours and 16% during the week, trading near $506 as it tested support around its 200-day moving average. The decline follows a rally of more than 100% last month that pushed the privacy-focused cryptocurrency close to $650. Meanwhile, Monero rose nearly 15% after a reported $23 million purchase linked to unusual on-chain activity originating from a Coinbase withdrawal. The development matters because it highlights diverging market sentiment toward major privacy coins. Next, traders will watch whether Zcash holds the $500 level and whether Monero’s momentum continues.