{"id":93006,"date":"2026-01-11T16:57:08","date_gmt":"2026-01-11T13:57:08","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=93006"},"modified":"2026-01-11T17:01:52","modified_gmt":"2026-01-11T14:01:52","slug":"week-in-review-zcash-infighting-and-morgan-stanley-crypto-etf-filings","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/week-in-review-zcash-infighting-and-morgan-stanley-crypto-etf-filings\/","title":{"rendered":"Week in review: Zcash infighting and Morgan Stanley crypto-ETF filings"},"content":{"rendered":"

Bitcoin tried to clear $95,000, Zcash\u2019s core developers quit, the Truebit token sank after a hack, Morgan Stanley filed to launch crypto ETFs, and other events of the week.<\/p>\n

Post-holiday moves<\/h2>\n

The first full week of 2026 was relatively calm for crypto. Bitcoin started<\/a> Monday by rising above $93,000.<\/p>\n

The upswing was tied to a global \u201ceverything rally\u201d. Digital-asset moves were in sync with Asian exchanges.\u00a0<\/p>\n

Another factor was the situation in Venezuela. Investors watched developments closely, especially amid signs of a potential \u201cstrategic entry\u201d by the US into the country\u2019s oil sector.<\/p>\n

An additional impulse came from reports about the capture of Venezuelan president Nicol\u00e1s Maduro and his transfer to New York. According to CoinEx Research chief analyst Jeff Ko, the event triggered a chain reaction: oil prices dipped slightly, and tensions in the Middle East rose\u2014Israel\u2019s opposition urged Iran to learn lessons from the Venezuelan scenario.<\/p>\n

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Hourly chart of BTC\/USDT on Binance. Source: TradingView<\/a>.<\/figcaption><\/figure>\n

By Tuesday the first cryptocurrency had climbed to almost $95,000, but that proved a local peak.\u00a0<\/p>\n

From midweek bitcoin slipped into a correction and fell back to around $90,000.<\/p>\n

At the time of writing the digital gold trades at $90,700, little changed over seven days. Its market capitalisation is $1.8trn.<\/p>\n

Other top-10 assets by market value followed the flagship. Exceptions were BNB (+3% on the week) and DOGE (-8%).<\/p>\n

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Source: CoinGecko<\/a>.\u00a0<\/figcaption><\/figure>\n

The crypto Fear and Greed Index<\/a> moved out of the \u201cextreme fear\u201d zone, recovering to 29.\u00a0<\/p>\n

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Source: alterantive.me<\/a>.<\/figcaption><\/figure>\n

By the end of the week the total crypto market capitalisation stood at $3.18trn. Bitcoin\u2019s dominance index was 56.9%, Ethereum\u2019s 11.8%.<\/p>\n

Rift at Zcash<\/h2>\n

On January 7 it emerged that the core developers of the privacy coin Zcash<\/a>\u2014the Electric Coin Company (ECC) team\u2014had left the project<\/a> en masse. According to former CEO Josh Swihart, the decision was driven by an internal conflict.<\/p>\n

He said that most members of the board of the Bootstrap non-profit acted at odds with the mission of the privacy-focused cryptocurrency.\u00a0<\/p>\n

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\u201cIn short, the terms of our employment were changed in such a way that it became impossible for us to perform our duties effectively and in good faith,\u201d added Swihart.\u00a0<\/p>\n<\/blockquote>\n

Former ECC employees plan to create a new organisation while keeping the original goal\u2014building \u201cunstoppable private money\u201d. The Zcash protocol itself will not be affected by the departure and will continue to operate as usual.<\/p>\n

Helius Labs co-founder Mert Mumtaz called the development a \u201cbullish signal\u201d for the asset and forecast ZEC at $10,000.<\/p>\n

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\u201cThe most competent people in Zcash (along with Tachyon, of course), are now free from the stifling inefficiency of foundation policy,\u201d he added.<\/p>\n<\/blockquote>\n

Even so, the privacy coin sold off on the news. ZEC slid from $530 to $385, losing almost 30% over the week.\u00a0<\/p>\n

\"image\"
Hourly chart of ZEC\/USDT on Binance. Source: TradingView<\/a>.\u00a0<\/figcaption><\/figure>\n

Amid the weakness, Monero (XMR) took<\/a> the lead among privacy coins. The cryptocurrency\u2019s price reached<\/a> $500, up 15% in seven days.\u00a0<\/p>\n

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Source: CoinGecko<\/a>.<\/figcaption><\/figure>\n

What to discuss with friends?\u00a0<\/h2>\n