The upgrade is just two days away, and the community is already arguing.
ZEC fell more than 10% today, back to around $1,130. 📉
About $13.6 million in positions were liquidated over the past 24 hours, with longs accounting for nearly 90%. The $1,200 support level was also breached.
The trigger wasn’t the upgrade, but infighting over funding: whale Big Z publicly liquidated their holdings on October 31 to protest the direction of the grants committee.
The founder proposed halting new grants, but the committee was only willing to cut them in half.
The positions look even worse: tracked shorts on Hyperliquid total about $193 million, while longs stand at just $136 million.
I think the bearish side is worth watching first: the upgrade’s positive impact hasn’t materialized, and the infighting has already scattered the buyers.
$ZEC
ZEC fell more than 10% today, back to around $1,130. 📉
About $13.6 million in positions were liquidated over the past 24 hours, with longs accounting for nearly 90%. The $1,200 support level was also breached.
The trigger wasn’t the upgrade, but infighting over funding: whale Big Z publicly liquidated their holdings on October 31 to protest the direction of the grants committee.
The founder proposed halting new grants, but the committee was only willing to cut them in half.
The positions look even worse: tracked shorts on Hyperliquid total about $193 million, while longs stand at just $136 million.
I think the bearish side is worth watching first: the upgrade’s positive impact hasn’t materialized, and the infighting has already scattered the buyers.
$ZEC
