$ZEC fell, but protocol usage didn’t follow
$ZEC is now at 1144. This price level comes after speculative money pulled out.
First, where did that money come from? The money pushing the price up was short-term capital. Once it leaves, it’s gone.
Here’s how to interpret this number: 1144 is the price after the speculative frenzy cooled off, not a price that means the protocol is dead.
Here’s the counterintuitive part: the price has fallen while usage remains disconnected from it, suggesting people are still genuinely using the chain.
Usage hasn’t fallen along with the price. That’s what sets it apart from coins driven purely by sentiment.
But that’s also where the doubts lie: nobody is making a market for the usage data, yet the price fell first.
When the order book is thin, just a few sell orders can push the price down sharply.
People who are actually using it don’t care about this candlestick.
$ZEC
$ZEC is now at 1144. This price level comes after speculative money pulled out.
First, where did that money come from? The money pushing the price up was short-term capital. Once it leaves, it’s gone.
Here’s how to interpret this number: 1144 is the price after the speculative frenzy cooled off, not a price that means the protocol is dead.
Here’s the counterintuitive part: the price has fallen while usage remains disconnected from it, suggesting people are still genuinely using the chain.
Usage hasn’t fallen along with the price. That’s what sets it apart from coins driven purely by sentiment.
But that’s also where the doubts lie: nobody is making a market for the usage data, yet the price fell first.
When the order book is thin, just a few sell orders can push the price down sharply.
People who are actually using it don’t care about this candlestick.
$ZEC