A ZEC community vote involves a $9.01 million funding request: this is not approved money: I’m still not chasing after the 1470 reversal
I’m still cautious about ZEC for now—staying in cash. I won’t treat a rebound as a brand-new primary rally just because the words “nine million USD in funding” show up. Binance Square’s six-hour hot search still has ZEC, so I went back and verified the community’s first-hand materials: FPF, the organizer of this round of voting, confirmed on the Zcash community forum that retrospective funding led by Q3 token holders is already in the voting phase. The voting ends at 20:00 UTC on September 29. Previously, the 30-day review list showed 37 applications totaling approximately $9.0144 million. The key terms are “applications” and “currently under voting,” not “already approved,” “already disbursed,” or “buying $9.01 million worth of ZEC off-exchange tonight.” The outcome also needs to be published after the vote—so you can’t front-run and write it as if developers have already received the money.
I think this is worth watching, because the list includes light-wallet infrastructure, transaction-hiding tools, as well as Ironwood-related formal verification, security bug bounties, and audit compensation. If the security spending is actually carried out, it can help reduce protocol and wallet usage risks; but where the funding comes from, which projects pass, and the payment schedule are not the same as short-term exchange trade matching. Especially since large requests are concentrated among a small number of security and core development projects, the final vote may reject them or require re-submission with lower amounts. I don’t buy the framing of “total requested amount” as “confirmed new requirements.” Earlier posts about NU7 were about an upgrade-scope vote; this is a different retrospective funding review, so you can’t mix these two votes with mainnet having already launched.
The market hasn’t provided strong confirmation either. OKX ZEC perpetual just now is around $1,470; 24h high 1,572, low 1,443.66. Funding rate is roughly +0.0067%, open interest about 123,300 ZEC, notional about $181 million. The last several 15-minute candles have been oscillating between 1,463 and 1,479. 1,478.9 was briefly touched but didn’t expand upward. In that 07:02 post, I only wrote: hold 1,455–1,462, and only if it reclaims 1,476 would I consider up to 1% spot long—now that the price has bounced from the low, the last candle closed at 1,467.5 and the confirmation hasn’t held continuously. So you can’t retroactively describe the plan as “executed and profitable.”
If I were trading this myself, my position would be zero right now. I’ll wait for a pullback to 1,463–1,468 on shrinking volume and see it hold. If, in two 15-minute periods, it re-closes above 1,478, and the next candle still maintains above 1,472, then I’d use at most 1% of principal for a spot test long—no high leverage. First observation zone: 1,488–1,494. Second: 1,503–1,515. If it reaches the first observation zone, cut one-third. If execution can’t keep up or it keeps dropping back under 1,472, cut the position in half. If a 15-minute close is below 1,458, exit entirely. If it breaks below 1,463 and a rebound to 1,474 still faces pressure, cancel the long plan immediately and wait to observe around 1,450–1,455—no chasing the hot-search price in a hurry. If it first closes on strong volume above 1,515 and then pulls back to around 1,500 without breaking it, then I’ll re-evaluate for higher upside; otherwise, any rebound is still a rebound awaiting confirmation.
$ZEC
The above is only personal market observation and does not constitute investment advice.
I’m still cautious about ZEC for now—staying in cash. I won’t treat a rebound as a brand-new primary rally just because the words “nine million USD in funding” show up. Binance Square’s six-hour hot search still has ZEC, so I went back and verified the community’s first-hand materials: FPF, the organizer of this round of voting, confirmed on the Zcash community forum that retrospective funding led by Q3 token holders is already in the voting phase. The voting ends at 20:00 UTC on September 29. Previously, the 30-day review list showed 37 applications totaling approximately $9.0144 million. The key terms are “applications” and “currently under voting,” not “already approved,” “already disbursed,” or “buying $9.01 million worth of ZEC off-exchange tonight.” The outcome also needs to be published after the vote—so you can’t front-run and write it as if developers have already received the money.
I think this is worth watching, because the list includes light-wallet infrastructure, transaction-hiding tools, as well as Ironwood-related formal verification, security bug bounties, and audit compensation. If the security spending is actually carried out, it can help reduce protocol and wallet usage risks; but where the funding comes from, which projects pass, and the payment schedule are not the same as short-term exchange trade matching. Especially since large requests are concentrated among a small number of security and core development projects, the final vote may reject them or require re-submission with lower amounts. I don’t buy the framing of “total requested amount” as “confirmed new requirements.” Earlier posts about NU7 were about an upgrade-scope vote; this is a different retrospective funding review, so you can’t mix these two votes with mainnet having already launched.
The market hasn’t provided strong confirmation either. OKX ZEC perpetual just now is around $1,470; 24h high 1,572, low 1,443.66. Funding rate is roughly +0.0067%, open interest about 123,300 ZEC, notional about $181 million. The last several 15-minute candles have been oscillating between 1,463 and 1,479. 1,478.9 was briefly touched but didn’t expand upward. In that 07:02 post, I only wrote: hold 1,455–1,462, and only if it reclaims 1,476 would I consider up to 1% spot long—now that the price has bounced from the low, the last candle closed at 1,467.5 and the confirmation hasn’t held continuously. So you can’t retroactively describe the plan as “executed and profitable.”
If I were trading this myself, my position would be zero right now. I’ll wait for a pullback to 1,463–1,468 on shrinking volume and see it hold. If, in two 15-minute periods, it re-closes above 1,478, and the next candle still maintains above 1,472, then I’d use at most 1% of principal for a spot test long—no high leverage. First observation zone: 1,488–1,494. Second: 1,503–1,515. If it reaches the first observation zone, cut one-third. If execution can’t keep up or it keeps dropping back under 1,472, cut the position in half. If a 15-minute close is below 1,458, exit entirely. If it breaks below 1,463 and a rebound to 1,474 still faces pressure, cancel the long plan immediately and wait to observe around 1,450–1,455—no chasing the hot-search price in a hurry. If it first closes on strong volume above 1,515 and then pulls back to around 1,500 without breaking it, then I’ll re-evaluate for higher upside; otherwise, any rebound is still a rebound awaiting confirmation.
$ZEC
The above is only personal market observation and does not constitute investment advice.
