Recent exchange flows for Zcash (ZEC) showed deposits outpacing withdrawals in recent weeks, a pattern that may add selling pressure during a broader crypto-market pullback.
Its market capitalization was near $18.3 billion, keeping it among the 10 largest cryptocurrencies by market value.
ZEC’s relative strength index (RSI), which gauges momentum, stood at 30, a reading associated with oversold conditions. That reading contrasted with the exchange-flow signal, which showed net inflows over recent weeks.
The wider crypto market was also under pressure amid a higher-than-expected U.S. inflation reading. Bitcoin (BTC) fell 3% on a daily basis.
