$ZEC The most obvious pressure in these days is coming from ETFs.
Grayscale ZCSH has seen net outflows for three consecutive trading days, with weekly outflows of about $93.56 million, and assets under management have also fallen from nearly $980 million to $751 million. On September 30, there was a daily outflow of $30.25 million, and on October 2, another outflow of $26.93 million. ZEC has retreated from the prior high of $1,689 to around $1,300. Behind this round of correction, there truly is real capital withdrawing—not just normal market fluctuation.
But the timing is also right before the NU7 upgrade. On October 6, the testnet is expected to activate NU7. The most direct change is reducing block time from 75 seconds to 25 seconds, increasing block production frequency to about three times the original pace; if the testing goes smoothly, October 20 will determine the mainnet activation height. At present, the target date for the mainnet is November 5.
So now $ZEC is essentially where two forces collide: ETFs shifted from the heavy inflows in September to continuous redemptions, loosening short-term holdings; on the other side, NU7 has entered the practical deployment phase. The former puts downward pressure on the price, while the latter will determine whether this correction around $1,300 will turn into yet another exchange of positions.
Grayscale ZCSH has seen net outflows for three consecutive trading days, with weekly outflows of about $93.56 million, and assets under management have also fallen from nearly $980 million to $751 million. On September 30, there was a daily outflow of $30.25 million, and on October 2, another outflow of $26.93 million. ZEC has retreated from the prior high of $1,689 to around $1,300. Behind this round of correction, there truly is real capital withdrawing—not just normal market fluctuation.
But the timing is also right before the NU7 upgrade. On October 6, the testnet is expected to activate NU7. The most direct change is reducing block time from 75 seconds to 25 seconds, increasing block production frequency to about three times the original pace; if the testing goes smoothly, October 20 will determine the mainnet activation height. At present, the target date for the mainnet is November 5.
So now $ZEC is essentially where two forces collide: ETFs shifted from the heavy inflows in September to continuous redemptions, loosening short-term holdings; on the other side, NU7 has entered the practical deployment phase. The former puts downward pressure on the price, while the latter will determine whether this correction around $1,300 will turn into yet another exchange of positions.