Probably due to market situation at all. Not just zcash is down but all other tokens too. Its up to their development progress if theres gonna be a movement with relative to the current market. For me its normal, but due to privacy setting maybe thats also being one of the reason since monero is also stuck up with its price maybe people doesnt believe or more hype on privacy coins rather than other types of crypto projects.
Most altcoins are down because of the bear market. Zcash is no exception. But when you compare ZEC's price vs the competition, you'll notice there's a huge difference. ZEC hasn't had any major price movement for quite a few years now. The cryptocurrency is way below its ATH of around $1.6k per coin. That's a huge loss for investors who bought the coin at launch.
I've thought the poor price performance was because ZEC was a privacy coin, but I think the "founder's reward" had to do something with it. For those unaware, a portion of each ZEC mined went to the company's founder's address. That "tax" is no longer being collected, but it did have an impact over the short-term growth of the project. There's nothing that would "pump" ZEC's market price now, especially when the majority are focused on smart contracts, and "meme" coins. Privacy coins are widely unpopular thanks to governments' propaganda/misinformation. If Monero is having a hard time getting traction, don't expect Zcash to do better. At least, the ZEC blockchain is working as intended. As long as it stays decentralized, there should be nothing to worry about.
