Zcash has experienced a significant decline following the departure of key executives from its nonprofit creator, the Electric Coin Company. According to NS3.AI, the former core team has initiated a new privacy-focused project named cashZ, which has led to criticism of the new leadership at ECC. Despite the changes, market sentiment and on-chain metrics suggest there is still some demand for Zcash. However, its long-term outlook will largely depend on the effectiveness of the new leadership and broader macroeconomic conditions.