#zigcoin 1'm bearish on $ZIG Monday, 20:00, Tokyo time. ZIG Finance is No. 1 on both the 1-hour and 4-hour boards on CMC. Attention is high, but price action remains heavy. ■ Numbers Current price: $0.04158 (about ¥6.55 at ¥157.53 per dollar). CMC rank: 323. 1 hour: -0.08%, 4 hours: -0.39%, 24 hours: -1.78%, 7 days: +0.85%. 24-hour trading volume: about $104 million (+141.7% from the previous day). Market cap: about $58.59 million (about ¥9.2 billion), FDV: about $83.17 million. Trading volume ÷ market cap is 1.78x. Despite the sharp increase in volume, the price remains just 21% above the bottom of its 24-hour range. ■ Levels 24-hour range: $0.04139–$0.04234; 7-day range: $0.04084–$0.04257. The reference point from 4 hours ago was $0.04174, and the current price is below it. There are no perpetual contracts on OKX, so this is a spot-led market. ■ Catalysts ZIGChain is scheduled to migrate to v6 at block height 13,466,800, around November 3 at 09:30 UTC (around 18:30 Japan time). In addition to CosmWasm, it will enable EVM and support Ethereum JSON-RPC and EIP-1559-style fees. Governance Proposal #45 passed with 100% approval. Bybit and HTX have announced temporary suspensions of deposits and withdrawals around the upgrade, while trading itself will continue. Co-founder Abdul Rafay Gadit reportedly answered questions in an AMA on October 31. ■ View and invalidation conditions With deposit and withdrawal suspensions ahead of the upgrade, I see the fact that rising volume has not pushed up the price as a bearish signal. I will withdraw this view if the price closes above the 24-hour high of $0.04234 on a 1-hour candle. The downside reference is the 7-day low of $0.04084. Risks: the EVM support news could trigger a short-term short squeeze; sharp moves in a thin order book. ■ A week of payment rails This week's theme is “How will Arctic trade be settled?” EVM support also adds another path toward stablecoins and x402-style agent payments. Japan's content blockchain promotion organization JCBI is also an associate member of the x402 Foundation. Arctic Trade Lanes is tracking settlement and money flows along Arctic Ocean shipping routes from the same perspective. The ATL token is planned for the near future; details are pending an announcement from the project. No promises of price or yield. We'll continue tracking this in UnicornsMap UM-Radar. $ZIG $BNCB $QQQB #NorthernRoutes #UMRadar #RWA @alexdolbun