🟠 Zcash ($ZEC ): Good News, But Price Keeps Falling!
Grayscale committed $1M to support the Zcash ecosystem, while the NU7 upgrade made blocks 3x faster. Yet ZEC dropped below $1,000, touching nearly $960.
Why the weakness?
📉 Grayscale's ZCSH fund saw $15M+ outflows in November.
💸 Around $40.6M in ZEC futures positions were liquidated within 24 hours, mostly longs.
Remember, ecosystem funding doesn't mean direct ZEC purchases.
Long-term fundamentals remain positive, but short-term selling pressure is strong.
Watch $1,000–$1,050 for recovery signals.
Buying opportunity or more downside ahead?
DYOR. NFA.
Grayscale committed $1M to support the Zcash ecosystem, while the NU7 upgrade made blocks 3x faster. Yet ZEC dropped below $1,000, touching nearly $960.
Why the weakness?
📉 Grayscale's ZCSH fund saw $15M+ outflows in November.
💸 Around $40.6M in ZEC futures positions were liquidated within 24 hours, mostly longs.
Remember, ecosystem funding doesn't mean direct ZEC purchases.
Long-term fundamentals remain positive, but short-term selling pressure is strong.
Watch $1,000–$1,050 for recovery signals.
Buying opportunity or more downside ahead?
DYOR. NFA.
