According to CoinMeta, the price of Zcash ($ZEC) fell below $1,000 on November 12, mainly due to a outflow of $14.6 million from Grayscale Zcash ETF. Despite Zcash recently completing a network upgrade ($NU7), its price has still been hovering around $980, with a decline of over 23% in the past seven days. This outflow occurred after the activation of NU7 on November 6, when the target block interval was reduced from 75 seconds to 25 seconds. According to third-party data, Grayscale recorded a net outflow of $14.6 million on November 11, indicating that institutional demand remains unbalanced. Despite recent redemptions, ZCSH still maintains a net asset value of about $577 million and a cumulative net inflow of over $207 million. The weakness of Zcash is also related to Grayscale's recently launched $1 million ecosystem program, which supports education and development rather than direct purchases of ZEC.