Privacy coins lead against the trend: $ZEC tops $1,325 today
The broader market is still bottoming out around $76,000, but Zcash rose about 4.5% against the trend today, trading around $1,325. Its 24-hour trading volume topped $1.1 billion, its market cap reached about $22.6 billion, and it returned to the top 10 by market cap.
There are three solid reasons behind the rise:
1️⃣ The NU7 upgrade was officially activated in the early hours of November 6 (block 3,543,405). It shortens block intervals, restructures miner fees, and freezes about 12,000 ZEC from the old Sprout pool, reinforcing the supply cap and halving schedule. This is a tangible protocol-level positive, not just empty rhetoric.
2️⃣ Short sellers are getting squeezed. Over the past 24 hours, about $8.16 million worth of ZEC positions were liquidated across the market, with short positions accounting for 68%. The short squeeze is the direct fuel behind this rally. However, open interest rose only 0.45%, suggesting that this isn't a flood of new bullish traders entering the market; rather, more existing shorts are cutting their losses and exiting. That raises questions about how much longer this rally can last.
3️⃣ Institutional interest is taking up the baton. Cypherpunk Technologies (formerly Leap Therapeutics) announced a $50 million ZEC treasury strategy this week, backed by Winklevoss Capital. It has already bought about 204,000 ZEC (1.25% of the supply), with a target of 5%. Starting November 13, it will trade on Nasdaq under the ticker CYPH. Privacy coins now have their own “crypto treasury concept stock.”
Technicals: The daily RSI is around 58, not extremely overbought. The $1,350–$1,370 range is the breakout zone above; if it holds, $1,388 (last week's high) is in sight. Support is first at $1,317 (the 50-day moving average), then $1,175.
The risks are worth spelling out too:
· ZEC-related ETFs saw net outflows of more than $10 million this week, led by Grayscale's ZEC ETF. Institutional money isn't uniformly bullish;
· On November 3, ZEC briefly fell 11% to $1,135 amid a community funding dispute. Governance disputes are a longstanding problem for this coin;
· EU restrictions on privacy coins take effect on July 1, 2027, and regulatory uncertainty remains;
· The Fear and Greed Index is at 26 (Fear). If the broader market falls further, countertrend coins are often the quickest to catch up on the downside.
My take: The combination of NU7, a short squeeze, and the treasury strategy is creating a strong short-term tailwind for the privacy sector, but this rally is driven more by events than by a trend reversal. Don't chase it unless ZEC can hold above $1,350; holding $1,317 is essential for the rally to remain worth watching. $XMR is a leader in the same sector, and these coins often rise and fall together as the privacy narrative spreads, so it may be worth keeping an eye on both.
#Zcash #隐私币 #NU7 #Altcoins
Personal research shared for informational purposes only; this is not investment advice.
The broader market is still bottoming out around $76,000, but Zcash rose about 4.5% against the trend today, trading around $1,325. Its 24-hour trading volume topped $1.1 billion, its market cap reached about $22.6 billion, and it returned to the top 10 by market cap.
There are three solid reasons behind the rise:
1️⃣ The NU7 upgrade was officially activated in the early hours of November 6 (block 3,543,405). It shortens block intervals, restructures miner fees, and freezes about 12,000 ZEC from the old Sprout pool, reinforcing the supply cap and halving schedule. This is a tangible protocol-level positive, not just empty rhetoric.
2️⃣ Short sellers are getting squeezed. Over the past 24 hours, about $8.16 million worth of ZEC positions were liquidated across the market, with short positions accounting for 68%. The short squeeze is the direct fuel behind this rally. However, open interest rose only 0.45%, suggesting that this isn't a flood of new bullish traders entering the market; rather, more existing shorts are cutting their losses and exiting. That raises questions about how much longer this rally can last.
3️⃣ Institutional interest is taking up the baton. Cypherpunk Technologies (formerly Leap Therapeutics) announced a $50 million ZEC treasury strategy this week, backed by Winklevoss Capital. It has already bought about 204,000 ZEC (1.25% of the supply), with a target of 5%. Starting November 13, it will trade on Nasdaq under the ticker CYPH. Privacy coins now have their own “crypto treasury concept stock.”
Technicals: The daily RSI is around 58, not extremely overbought. The $1,350–$1,370 range is the breakout zone above; if it holds, $1,388 (last week's high) is in sight. Support is first at $1,317 (the 50-day moving average), then $1,175.
The risks are worth spelling out too:
· ZEC-related ETFs saw net outflows of more than $10 million this week, led by Grayscale's ZEC ETF. Institutional money isn't uniformly bullish;
· On November 3, ZEC briefly fell 11% to $1,135 amid a community funding dispute. Governance disputes are a longstanding problem for this coin;
· EU restrictions on privacy coins take effect on July 1, 2027, and regulatory uncertainty remains;
· The Fear and Greed Index is at 26 (Fear). If the broader market falls further, countertrend coins are often the quickest to catch up on the downside.
My take: The combination of NU7, a short squeeze, and the treasury strategy is creating a strong short-term tailwind for the privacy sector, but this rally is driven more by events than by a trend reversal. Don't chase it unless ZEC can hold above $1,350; holding $1,317 is essential for the rally to remain worth watching. $XMR is a leader in the same sector, and these coins often rise and fall together as the privacy narrative spreads, so it may be worth keeping an eye on both.
#Zcash #隐私币 #NU7 #Altcoins
Personal research shared for informational purposes only; this is not investment advice.
