According to the Zcash Foundation, ZEC was trading around $1,278 during Wednesday morning's session, up about 12.4% over 24 hours, as the privacy-focused cryptocurrency recovered from its previous decline. Network Upgrade 7 (NU7) is expected to go live around November 5, reducing the target block time from 75 to 25 seconds and introducing a network sustainability mechanism that temporarily reserves 60% of transaction fees for future mining rewards.
Derivatives positioning suggests renewed speculative interest. According to CoinGlass, open interest in ZEC futures reached around 2.17 million ZEC on November 4, up from 1.96 million on Sunday. Institutional flows, however, moved in the opposite direction: Zcash-focused investment products recorded outflows of $3.58 million and $3.63 million over the previous two trading sessions.
$ZEC
$RUNE
$GNO
Derivatives positioning suggests renewed speculative interest. According to CoinGlass, open interest in ZEC futures reached around 2.17 million ZEC on November 4, up from 1.96 million on Sunday. Institutional flows, however, moved in the opposite direction: Zcash-focused investment products recorded outflows of $3.58 million and $3.63 million over the previous two trading sessions.
$ZEC
$RUNE
$GNO