The activation height for the Zcash NU7 upgrade has been confirmed, and ZEC surged 11% in a single day
Event details: On October 20, the Zcash development team confirmed the mainnet activation block height for the NU7 network upgrade, targeting a launch on November 5. After the announcement, ZEC rose 10.96% today, briefly reaching $1,296.45, leading the gains among major cryptocurrencies.
Impact and reasons: NU7 will shorten block time from 75 seconds to 25 seconds, tripling transaction confirmation speed, while also introducing a network sustainability mechanism that channels 60% of transaction fees into reserves to be redistributed to miners in 2031, with the remaining 40% going to current miners. The upgrade also freezes the old Sprout pool of about 22,309 $ZEC (roughly $26 million), requiring holders to migrate in advance. 2.4 million ZEC participated in the vote, with a 98.9% approval rate, showing strong community consensus.
Related coin: ZEC is currently priced at $1,264.97, up 10.96% over 24 hours, with trading volume clearly expanding.
Technical levels: Resistance at $1,296 to $1,349 (the area of recent dual highs); support at $1,181 (EMA20) and $1,049 (prior low).
Future trend: ZEC is undergoing a V-shaped recovery after falling from $1,698 to $1,049, and the upgrade’s implementation is the clearest catalyst in the near term. However, outflows from the Grayscale Zcash Trust ZCSH widened to $10 million yesterday, suggesting institutional capital is retreating. The price has already fallen about 21% from the late-September high of $1,600, so caution is warranted for a pullback after the positive news is fully priced in.
Coin introduction: Zcash is the leading zero-knowledge proof privacy coin. The share of shielded transactions recently reached 56%, a multi-year high, and it is regarded together with Monero$XMR as the two major privacy coins.
Event details: On October 20, the Zcash development team confirmed the mainnet activation block height for the NU7 network upgrade, targeting a launch on November 5. After the announcement, ZEC rose 10.96% today, briefly reaching $1,296.45, leading the gains among major cryptocurrencies.
Impact and reasons: NU7 will shorten block time from 75 seconds to 25 seconds, tripling transaction confirmation speed, while also introducing a network sustainability mechanism that channels 60% of transaction fees into reserves to be redistributed to miners in 2031, with the remaining 40% going to current miners. The upgrade also freezes the old Sprout pool of about 22,309 $ZEC (roughly $26 million), requiring holders to migrate in advance. 2.4 million ZEC participated in the vote, with a 98.9% approval rate, showing strong community consensus.
Related coin: ZEC is currently priced at $1,264.97, up 10.96% over 24 hours, with trading volume clearly expanding.
Technical levels: Resistance at $1,296 to $1,349 (the area of recent dual highs); support at $1,181 (EMA20) and $1,049 (prior low).
Future trend: ZEC is undergoing a V-shaped recovery after falling from $1,698 to $1,049, and the upgrade’s implementation is the clearest catalyst in the near term. However, outflows from the Grayscale Zcash Trust ZCSH widened to $10 million yesterday, suggesting institutional capital is retreating. The price has already fallen about 21% from the late-September high of $1,600, so caution is warranted for a pullback after the positive news is fully priced in.
Coin introduction: Zcash is the leading zero-knowledge proof privacy coin. The share of shielded transactions recently reached 56%, a multi-year high, and it is regarded together with Monero$XMR as the two major privacy coins.