Zcash fell about 11% to around $1,040 on Tuesday, the same day Grayscale pledged $1 million to the privacy coin’s ecosystem and launched a national ad campaign for its Zcash ETF.
MoneyTurkey | Talk of the Town | 10 November 2026
Key points
- Zcash dropped about 11% even as Grayscale announced $1 million in grants and a campaign that opened with a Wall Street Journal wrap.
- Gram, the renamed Toncoin, rose 10% a day after Telegram founder Pavel Durov said more than 700,000 self-custodial wallets were created in 48 hours.
- Rain, the prediction-market token, fell 15% and has lost nearly 40% over the past week.
- Bitcoin slipped about 2% to $73,580 on a day hotter-than-expected US inflation weighed on risk assets.
Grayscale’s Zcash push meets a falling token
Grayscale said it plans to direct $1 million to nonprofits and projects supporting Zcash and has already awarded $400,000 in four equal grants to the Zcash Foundation, Pretty Good Policy for Zcash, Shielded Labs and Project Tachyon. The money comes from the sponsor fee on its Zcash ETF, which Grayscale said it intends to reinvest in full for up to the fund’s first year as an exchange-traded product. The commitment is voluntary and Grayscale can change or end it at any time.
The token did not respond. Zcash traded near $1,040, down about 11% over 24 hours, according to CoinGecko and CoinMarketCap data, and Decrypt put the 30-day fall at roughly 19%. The pledge is funded by holders’ own fees rather than new money from Grayscale’s balance sheet, so it changes little about demand for the coin itself.
Telegram wallets lift Gram
Gram climbed about 10% to $1.14. On Monday Durov said more than 700,000 self-custodial wallets were created on Telegram in 48 hours. A Telegram wallet switches on automatically when it receives Gram, so the count measures wallets created, not people actively using them, as crypto.news and Crypto Briefing both noted.
Blue chips
Bitcoin was down about 2% at $73,580 and Ethereum fell 4% to $2,047, as hot US consumer price data pushed bond yields higher and weighed on risk assets.
| Coin | 24h | Price | Market cap |
|---|---|---|---|
| Bitcoin (BTC) | -2.2% | $73,580.00 | $1.5T |
| Ethereum (ETH) | -4.0% | $2,047.37 | $250.2B |
| BNB (BNB) | -1.8% | $676.80 | $89.0B |
| XRP (XRP) | -4.1% | $1.05 | $66.9B |
| Solana (SOL) | -4.3% | $82.92 | $49.0B |
Biggest gainers
Bitway led the top 200 with a 14% gain to $1.16, ahead of Gram. Neither Bitway nor the other gainers had a clear news trigger in the sources we checked.
| Coin | 24h | Price | Market cap |
|---|---|---|---|
| Bitway (BTW) | +14.2% | $1.16 | $1.7B |
| Gram (prev. Toncoin) (GRAM) | +10.1% | $1.14 | $3.3B |
| Bedrock (BR) | +8.5% | $0.50 | $148M |
| Pi Network (PI) | +6.5% | $0.070 | $801M |
| Lighter (LIT) | +6.5% | $3.45 | $861M |
Biggest losers
Rain, the token of an Arbitrum-based prediction-market protocol, fell about 15% to $0.0039 and is down nearly 40% over seven days, according to CoinGecko and DefiLlama. It is not connected to Rain, the stablecoin payments company that has applied for a US national trust bank charter. Zcash and Venice Token each fell about 11%.
| Coin | 24h | Price | Market cap |
|---|---|---|---|
| Rain (RAIN) | -15.3% | $0.0039 | $2.8B |
| Provenance Blockchain (HASH) | -10.9% | $0.0066 | $399M |
| Venice Token (VVV) | -10.8% | $19.29 | $944M |
| Zcash (ZEC) | -10.7% | $1,040.24 | $17.7B |
| Dash (DASH) | -9.3% | $42.62 | $550M |
Talk of the Town asks
Can marketing money from an ETF sponsor move a coin, or does it take real demand for the network?
For information only. Not investment advice.
Sources
- Grayscale via GlobeNewswire: Grayscale Launches Zcash Invest and Commits $1 Million to Support the Zcash Ecosystem
- CoinMarketCap: Grayscale Commits $1M to Zcash Ecosystem, Launches Zcash Campaign
- Decrypt: Grayscale Bets $1 Million on Zcash as Privacy Coin Tumbles
- crypto.news: Telegram sees 700,000 new crypto wallets in 48 hours, Durov says
- Crypto Briefing: Telegram sees over 700,000 self-custodial wallets created in 48 hours
- CoinGecko: Rain (RAIN) price
- DefiLlama: Rain Protocol
