ZEC is ranked ninth by market value, yet the price hasn’t even climbed back to a third of its historical peak. The circulating supply has been increased by more than 80%, but it still can’t be moved—this valuation bubble is inflated like paper, flimsy and transparent. Even worse: after the price was smashed down from the highs, the open interest in the contracts actually surged against the trend by nearly 20%. The longs are adding leverage to catch a falling knife—clearly, the market maker is using the liquidity at the high to unload. There’s no “takeoff” here; this is the last dance of the distribution phase. Going short is the right move—just wait for the waterfall.