$ZEC Down 13% on the Week as Zcash Moves to Freeze Its Oldest Privacy Pool
ZEC trades near $1,170, up 2.8% today but down nearly 13% on the week. On Oct 20, Zcash decides whether to activate NU7 on mainnet, targeting Nov 5. Under ZIP 2003, the upgrade would reject Sprout transactions, stranding about 22,309 ZEC even for holders with valid keys.
Cleaning out legacy code is healthy, but the fight over frozen funds adds uncertainty, and ZEC is below the week's $1,343 open.
Bearish short term. Expect a retest of the $1,049 weekly low while ZEC stays below $1,192.
Not financial advice. DYOR.
$ZEC
ZEC trades near $1,170, up 2.8% today but down nearly 13% on the week. On Oct 20, Zcash decides whether to activate NU7 on mainnet, targeting Nov 5. Under ZIP 2003, the upgrade would reject Sprout transactions, stranding about 22,309 ZEC even for holders with valid keys.
Cleaning out legacy code is healthy, but the fight over frozen funds adds uncertainty, and ZEC is below the week's $1,343 open.
Bearish short term. Expect a retest of the $1,049 weekly low while ZEC stays below $1,192.
Not financial advice. DYOR.
$ZEC