$ZEC is celebrating its 10th anniversary today, and the price is doing it justice: up over 6% in 24 hours, back around $1,300 🎂
A few catalysts are coming together:
1️⃣ The NU7 upgrade is expected to launch around November 5, cutting block times from 75 seconds to 25 seconds—a direct 3x speedup
2️⃣ Grayscale’s Zcash ETF saw its strongest week of inflows since mid-September
3️⃣ Futures open interest has topped $1.5 billion. Shorts were leaning heavily the day before, so some of this rally is short covering
One thing to keep in mind: rallies driven by short squeezes can also pull back quickly. Volatility will likely pick up around the upgrade, so if you’re chasing the price, manage your position size carefully.
Meanwhile, $BTC has climbed back above $80,000. The Fed’s rate decision is tonight, and it could set the short-term direction.
#Zcash #FederalReserve
For reference only; not investment advice.
A few catalysts are coming together:
1️⃣ The NU7 upgrade is expected to launch around November 5, cutting block times from 75 seconds to 25 seconds—a direct 3x speedup
2️⃣ Grayscale’s Zcash ETF saw its strongest week of inflows since mid-September
3️⃣ Futures open interest has topped $1.5 billion. Shorts were leaning heavily the day before, so some of this rally is short covering
One thing to keep in mind: rallies driven by short squeezes can also pull back quickly. Volatility will likely pick up around the upgrade, so if you’re chasing the price, manage your position size carefully.
Meanwhile, $BTC has climbed back above $80,000. The Fed’s rate decision is tonight, and it could set the short-term direction.
#Zcash #FederalReserve
For reference only; not investment advice.