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• Zcash price plunged to $217, hitting a four-month low amid a 20% dip.
• The privacy coin dumped as bears pushed Bitcoin under $70,000.
• ZEC traded around $228 at the time of writing, but risks breaching support at $200.

Zcash (ZEC) has declined by more than 20% in the past 24 hours, accelerating its sharp descent amid an increasingly bearish cryptocurrency market.

The privacy coin’s dip to below $220, the first time in four months, came as Bitcoin crashed to $69,500 and Ethereum fell to lows of $2,070.

Among other top altcoin losers on the day was Cardano, which broke to $0.26.

Monero, Dash, and Decred all tanked as privacy coins suffered the bearish flip, hurting cryptocurrencies.

Notably, BTC’s dip has Michael Saylor’s Strategy sitting on approximately $4.5 billion of unrealised losses on the company’s 713,502 BTC.

Meanwhile, BitMine’s 4.2 million ETH currently has about $7.5 billion in unrealised losses.

Top privacy coin turns bearish

Zcash’s plunge stands out among privacy coins, especially after the ZEC price recently jumped to highs above $744 as Bitcoin struggled.

Headwinds amid waning demand now see Zcash changing hands at lows of $217, just a few weeks after it topped $540.

The more than 20% dip in the past 24 hours and 40% nosedive in the past week put Zcash at risk of further technical breakdown.

Capitulation among holders has accelerated sell volumes, with a 36% spike to $538 million in the past day.

Despite the losses, Zcash tops Bitcoin, Bitcoin Cash, and Monero in terms of overall performance over the past year.

Bitwise CIO Matt Hougan shared this view via X.

The relative returns of different monetary crypto assets since Jan. 1, 2025, is remarkable:

Bitcoin (BTC): -22%
Bitcoin Cash (BCH): +23%
Monero (XRM): +97%
Zcash (ZEC): +347%

Lots of confounding variables here, including that BTC holders were sitting on the biggest…

— Matt Hougan (@Matt_Hougan) February 5, 2026

Zcash risks plunge below $200

Bears have relentlessly pressured ZEC bulls since the cryptocurrency’s 2025 peak above $740, when early privacy hype drove explosive growth.

Now, after dipping to $217 on February 5, 2026, ZEC risks testing sub-$200 levels.

On Feb. 5, the altcoin came close to the critical psychological support after failing to recover following Electric Coin Company’s core team exit.

Continued regulatory scrutiny on privacy tokens and market-wide profit-taking amid Bitcoin’s latest price crash are key negative triggers.

While ZEC has shattered its key trendline support at $250, a daily RSI deep in oversold territory suggests a rebound is likely.

However, the downturn highlights the privacy coin’s struggles amid broader market volatility, and breaching $200 might result in a new downtrend.

Key support levels beneath this would be $173 and $125 – levels reached in October 2025 before the parabolic surge to the multi-year highs above $700.

Per CoinMarketCap data, ZEC traded around $228 across major exchanges during the early US session on Thursday.

This aligned with Bitcoin’s slight bounce above $70,500, and Monero looked to hold $345.

The post Zcash price falls 20% to hit 4-month lows under $220 appeared first on CoinJournal.

• Cardano price dropped to near $0.26 as cryptocurrencies continued to struggle.
• ADA bulls face further pain if the price breaks below $0.25.
• Bitcoin’s crash to under $70,000 amid bear cycle fears is a major trigger.

Cardano price fell more than 9% to extend its downturn, with this coming as Bitcoin tumbled to below the $70,000 support level.

With BTC dragging the broader crypto market into turmoil, Cardano (ADA) dropped to lows of $0.26, signaling prolonged downside risks in this bear cycle.

Other altcoins had it even rougher, with XRP plummeting 14% to under $1.40 and Solana breaching support at $90.

Altcoins slide as BTC tanks amid market panic

Bitcoin sank further on Thursday, with bears breaking below $70,000 to plunge the whole sector into fresh turmoil.

The 8% drop from a retest of $73,000 came as Strategy, the world’s largest corporate holder of Bitcoin, sank into unrealized losses worth billions of dollars.

Treasury Secretary Scott Bessent had also noted on Wednesday that the government would not “bail out” Bitcoin.

However, despite confirmation that the US will not sell its BTC holdings, Cardano, alongside all the top altcoins, nosedived as BTC touched lows of $69,500.

Analysts at Glassnode pointed out that forced selling is escalating.

The $BTC capitulation metric has printed its second-largest spike in two years, highlighting a sharp escalation in forced selling.
These stress events typically coincide with accelerated de-risking and elevated volatility as market participants reset positioning.… pic.twitter.com/mcvVqXJcYq

— glassnode (@glassnode) February 5, 2026

Cardano ADA price dives to $0.26

Cardano traded at $0.27 at the time of writing on February 5, 2026, down nearly 9% on the day.

Recent declines mean Cardano price has dived 21% in the past week and 36% in the past month.

The plunge from the $0.8 peak in October 2025 has only accelerated in the past month, with bulls failing to hold onto notable bounces above the $0.30 level.

ADA’s move aligns with bear cycle indicators, including a Fear & Greed Index in extreme fear territory and negative funding rates across exchanges.

Retail and institutional outflows have also amplified the slide, with macroeconomic conditions fueling further pain in a brutal start to the year for buyers.

Given Bitcoin’s outlook, analysts see the current support level of $0.26 as a fragile one for Cardano.

Bearish technicals signal further ADA downtrend

ADA’s daily chart gives a largely bearish outlook after the token’s dip below $0.30 and $0.28.

The dump across risk assets saw buyers fail to hold the 50-day moving average mark, while daily RSI hovers near oversold but lacks bullish divergence.

Data from Coinglass also shows a sharp decline in open interest, and negative funding rates reinforce the outlook.

If the altcoin carnage accelerates amid a broader bear cycle crash, ADA could revisit $0.20 or lower.

On the upside, a shift in macro conditions and regulatory tailwinds could spark bullish bets.

Catalysts like network upgrades or ETF approvals also favour bulls, with short-term targets at $0.50 and $1.

The post Cardano faces deeper plunge as Bitcoin breaches $70K amid bear-cycle fears appeared first on CoinJournal.

• Playnance unveils Web2-to-Web3 gaming infrastructure after years operating privately at scale.
• The platform processes 1.5 million daily on-chain transactions with over 10,000 active users.
• Playnance focuses on simplifying blockchain access through Web2-style onboarding systems.

Playnance has made its first public announcement, revealing itself as a Web3 infrastructure and consumer platform company that has been operating a live ecosystem aimed at onboarding mainstream Web2 users into blockchain-based environments.

The announcement was made on February 5, 2026, from Tel Aviv, marking the company’s first formal introduction after several years of developing and running its technology and platforms privately.

Founded in 2020, Playnance has positioned itself as a Web2-to-Web3 gaming infrastructure layer.

The company integrates with more than 30 game studios and enables the conversion of thousands of games into fully on-chain experiences, where all gameplay actions are executed and recorded directly on blockchain networks.

Infrastructure built to simplify blockchain adoption

Playnance’s core offering focuses on removing technical barriers commonly associated with blockchain usage.

The company’s products are designed to allow users to interact with on-chain systems without needing direct knowledge of blockchain mechanics.

Instead, users access platforms through familiar Web2-style interfaces, including standard account creation and login processes, while blockchain functionality operates in the background.

The company stated that its live platforms currently process approximately 1.5 million on-chain transactions daily and support more than 10,000 daily active users.

According to Playnance, a significant portion of its user base originates from traditional Web2 environments.

These users are reportedly able to onboard and interact with blockchain-based systems without using external wallets or managing private keys, suggesting continued on-chain engagement from audiences outside the traditional crypto sector.

The company’s ecosystem also includes the G Coin initiative, which is currently operating in pre-sale mode and is accessible through the Playnance official website.

Consumer platforms showcase operational ecosystem

Playnance operates several consumer-facing platforms designed to demonstrate its infrastructure capabilities.

Among these are PlayW3, Up vs Down, and other products that run on shared on-chain infrastructure and wallet systems.

The integrated structure allows users to move between platforms without repeating onboarding procedures.

All user interactions across these platforms are executed and recorded on-chain while remaining non-custodial, aligning with the company’s focus on user control and blockchain transparency.

The shared wallet and infrastructure framework also supports cross-platform engagement within the broader Playnance ecosystem.

“Our focus was on building systems that people could use without needing to understand blockchain mechanics,” said Pini Peter, CEO of Playnance. “We prioritized live operation and user behavior over public announcements, and this is the first time we are formally introducing the company after reaching scale.”

Expansion strategy centred on user behaviour

Playnance stated that its infrastructure is designed to support high-volume consumer activity and continuous on-chain execution.

The company’s approach reflects a broader industry shift toward practical blockchain applications targeting mainstream audiences.

Looking ahead, Playnance indicated that its ecosystem expansion will be guided by observed user behaviour and platform performance.

The company emphasised that its development roadmap will focus on real usage data rather than speculative adoption models.

Playnance describes itself as a company focused on reducing friction between user behaviour and blockchain execution by operating consumer platforms at scale.

The post Playnance unveils Web2-to-Web3 gaming ecosystem after years in stealth mode appeared first on CoinJournal.