---
title: "Why did ZEC drop 0.74% in 1 minute? Evidence check: Zcash falls in a one-hour move as other tracked coins are mixed · 2026-10-23"
description: "Zcash fell over a one-hour window while Bitcoin moved only slightly, according to market data from Gate. Some other tracked coins moved the same direction and none moved further. No report in the monitored feeds explains the decline; the only nearby item, published by Cointelegraph, concerned a…"
language: en
canonical: "https://whycoinmoves.com/en/events/zcash-move-1792720080"
published: 2026-10-23T01:48:59.000Z
updated: 2026-10-23T02:54:08.000Z
indexable: true
---

# Why did ZEC drop 0.74% in 1 minute? Evidence check: Zcash falls in a one-hour move as other tracked coins are mixed · 2026-10-23

Zcash fell over a one-hour window while Bitcoin moved only slightly, according to market data from Gate. Some other tracked coins moved the same direction and none moved further. No report in the monitored feeds explains the decline; the only nearby item, published by Cointelegraph, concerned a…

Nearby report sources (context, not confirmed causes): No matching source available

## Key facts

ZEC changed -0.74% in 1 minute (23/10/2026, 01:47 to 23/10/2026, 01:48, UTC; Gate · USDT). The cause remains unresolved.
On the OKX perpetual swap ZEC-USDT-SWAP around the alert: funding rate +0.0006% per period; liquidations $0 long / $75,887 short (UTC). These are conditions that accompanied the move, not its cause.
After site detection, observed returns were 5 minutes: -0.50% (difference from BTC -0.39 pp; 23/10/2026, 01:49 → 23/10/2026, 01:54, UTC; Gate · USDT); 1 hour: -0.50% (difference from BTC -0.86 pp; 23/10/2026, 01:49 → 23/10/2026, 02:51, UTC; Gate · USDT). Unlisted windows are unavailable.

## Returns after site detection

| Window | Return | BTC | Difference from BTC | Actual sampled interval (UTC) | Source |
| --- | --- | --- | --- | --- | --- |
| 5 minutes | -0.50% | -0.11% | -0.39 pp | 23/10/2026, 01:49 → 23/10/2026, 01:54 | Gate · USDT |
| 1 hour | -0.50% | +0.36% | -0.86 pp | 23/10/2026, 01:49 → 23/10/2026, 02:51 | Gate · USDT |
| 24 hours | — | — | — | — | — |

## Detected price interval

| Metric | Value |
| --- | --- |
| Window | 1 min |
| Sampled prices | 1238.85 → 1229.72 |
| Return / BTC difference | -0.74% / -0.57 pp |
| OKX perpetual funding rate (per period) | 0.0006% · OKX · ZEC-USDT-SWAP · sampled 23/10/2026, 01:49 (UTC) · Rate observed at collection; not annualized yield or a realized settlement. |
| Observed long liquidations | $0 · OKX · ZEC-USDT-SWAP · sampled 23/10/2026, 01:49 (UTC) · 23/10/2026, 01:47 → 23/10/2026, 01:49 (UTC) · Returned API records cover this sampled interval; not market-wide totals. |
| Observed short liquidations | $75,887 · OKX · ZEC-USDT-SWAP · sampled 23/10/2026, 01:49 (UTC) · 23/10/2026, 01:47 → 23/10/2026, 01:49 (UTC) · Returned API records cover this sampled interval; not market-wide totals. |
| Detection threshold | 0.7% |
| Source | Gate · USDT |

[Research: announcement timing and causality](<https://whycoinmoves.com/en/research/announcement-timestamps-and-causality.md>)

## Historical hourly baseline

| Metric | Value |
| --- | --- |
| Ready | false |
| Coverage | 0.0% (0/720) |
| Median absolute hourly return | — |
| 99th percentile of absolute hourly returns | — |
| BTC beta | — |
| Source / cutoff (UTC) | Gate · USDT / 23/10/2026, 01:48 |

## Claims and open questions

- What specific event, such as an exchange notice or listing change, caused the Zcash decline?
- Did on-chain flows or a project announcement coincide with the move?

## Source evidence



## Recent ZEC events and market reactions

- [Zakura proposes per-swap keys to stop future quantum computers linking Zcash swaps](<https://whycoinmoves.com/en/events/zcash-920831319c9771>) — Published 19/10/2026, 05:23 (UTC) · Multiple publishers (2 publishers) · General news · 5m +0.51% / 1h -0.39%
- [Full coin archive](<https://whycoinmoves.com/en/coins/zcash>)

## Recent Market watch events on other coins

- [SHIB: Why did SHIB go up 0.74% in 1 minute? Evidence check: Shiba Inu rises sharply in an hour while other tracked coins stay flat · 2026-10-23](<https://whycoinmoves.com/en/events/shiba-inu-move-1792719780>)
- [ADA: Why did ADA drop 1.60% in 5 minutes? Evidence check: Cardano falls in a market-wide move as most tracked coins decline · 2026-10-22](<https://whycoinmoves.com/en/events/cardano-move-1792687800>)
- [BTC: US spot Bitcoin ETFs take in about $1.07 billion over three sessions](<https://whycoinmoves.com/en/events/bitcoin-bitcoin-etfs-attract-1-08-7421d6e582dfce>)
- [Market watch](<https://whycoinmoves.com/en/topics/market>)

## Research for this archive

- [Monero XMR and Zcash ZEC: delistings, liquidity and USD vs USDT](<https://whycoinmoves.com/en/research/privacy-coin-delistings-and-quote-currency-isolation.md>)
- [Altcoin beta to Bitcoin: BTC, ETH, SOL and DOGE hourly returns](<https://whycoinmoves.com/en/research/hourly-returns-and-bitcoin-beta.md>)
- [Crypto liquidity and order book depth: a historical data audit](<https://whycoinmoves.com/en/research/order-book-data-quality.md>)
- [Perpetual funding rates and annualized yield: a 2025 comparison](<https://whycoinmoves.com/en/research/funding-rates-versus-investor-returns.md>)

[Methods and limitations](<https://whycoinmoves.com/en/methodology>)
Publisher count is not independent evidence count. Price changes cannot verify news or prove causation.