---
title: "Zipcoin Announces Protocol Shutdown and Outlines Plan for Token Sale"
description: "Project wallets control 2.2% of the token supply as ZC plunges 84% in 24 hours."
url: https://basisdesk.news/news/zipcoin-announces-shutdown-and-plans-token-sale
published: 2026-10-22T12:33:26.961Z
modified: 2026-10-22T12:33:26.961Z
section: Altcoins
author: Basis Desk Newsroom (AI-generated, source-verified)
sentiment: bearish
tickers: [ZC, BTC, ETH]
tags: [zipcoin, shutdown, token-sale, market-crash]
license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice.
---

# Zipcoin Announces Protocol Shutdown and Outlines Plan for Token Sale

Project wallets control 2.2% of the token supply as ZC plunges 84% in 24 hours.

## At a glance

- **What happened:** Zipcoin announced it is shutting down and planning a token sale on Oct. 22, with ZC dropping 84% in 24 hours.
- **Why it matters:** The closure removes active protocol support as project wallets hold 2.2% of the token supply.
- **Who is affected:** Zipcoin tokenholders and the Zipcoin development team.
- **What's next:** No next step announced.
- **Status:** announced
- **Primary source:** [Zipcoin Announces Shutdown and Plans Token Sale](https://thedefiant.io/news/hacks/zipcoin-announces-shutdown-and-plans-token-sale) — thedefiant.io

## Key points

- Zipcoin announced its protocol shutdown alongside plans to conduct a token sale.
- Project-controlled wallets hold 2.2% of the total token supply, according to the team.
- The native token ZC fell 84% across a 24-hour period following the announcement.

## Editorial remark

- **Context:** Zipcoin announced an operational shutdown on Oct. 22 accompanied by plans to sell tokens from project-controlled holdings [1].
- **Impact:** Holders of ZC experienced an immediate 84% price decline over a 24-hour period following the wind-down disclosure [1].
- **Watch:** Market participants are monitoring the disposition of the 2.2% of token supply held in project wallets [1].

Cryptocurrency project Zipcoin announced on Oct. 22 that it is shutting down operations and planning a token sale [1]. Following the announcement, the project's native token, $ZC, fell 84% over a 24-hour window [1].

According to statements from the Zipcoin team, project-controlled wallets currently hold 2.2% of the total token supply [1]. The team stated that it intends to execute a token sale in connection with the winding down of the protocol [1]. The move occurs as broader market pressures continue to affect early-stage ventures, mirroring patterns seen across the sector where a [crypto shutdown wave claims 82 projects in 2026 amid revenue strain](https://basisdesk.news/news/crypto-project-shutdowns-2026-defillama-stacy-muur-data).

## Market Impact

The 84% drawdown in $ZC over 24 hours reflects rapid secondary market repricing following the closure notice [1]. The Zipcoin team disclosed that the 2.2% supply allocation remains in project wallets as plans for the prospective sale develop [1]. At the time of writing, broader digital asset markets traded slightly lower, with $BTC at $81,743 and $ETH at $2,402.

The project has announced the cessation of its operational roadmap alongside the planned disposal of tokens from its wallets [1]. Additional administrative details concerning the execution of the token sale and final wind-down procedures remain tied to upcoming communications from the Zipcoin team [1].

## Sources

1. [Zipcoin Announces Shutdown and Plans Token Sale](https://thedefiant.io/news/hacks/zipcoin-announces-shutdown-and-plans-token-sale) — thedefiant.io, 2026-10-22

---
Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai