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Prices were very high on day one due to an extremely limited supply and a lot of (warranted) attention. They've since normalized.

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ZEC is currently down 14.24% on the day. 8 days ago, Daily volume exceeded the market cap. I don't think that qualifies as normalized by most standards.

[0] https://coinmarketcap.com/currencies/zcash/

"Normalized" is spin control. "Screaming dive" is more like it. From $6000 to $92 in a month, and dropping about 10% per day. Zcash is on its way to joining the other 700 dead and dying altcoins. Right now, it's the 43rd most valuable altcoin, and dropping in rank.

Mining is generating Zcash way too fast for the market to absorb. The "market cap" has been holding steady as the priced dropped over 99%.

To be fair to ZCash, the high prices at launch were primarily due to very limited supply and market manipulation. The "screaming dive" is really just heading towards a sustainable price.

Somewhere between $2-$10 is a more realistic valuation (based on other coin valuations) -- it will be interesting to see if the price stabilises once within this range.

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