🚨 $ZEC LOST $1,000. BUT AN INTERESTING EVENT MAY BE ON THE HORIZON!
Zcash remains under selling pressure. After a powerful rally, the coin sharply reversed course and dropped below the psychological $1,000 mark.
What’s happening? 👇
📉 Traders are massively closing LONG positions.
💰 Outflows are being recorded from ZEC-based ETFs.
🐋 Large wallets are transferring coins to exchanges, which could intensify selling pressure.
But there’s another side to the story!
On November 16, ZEC holders will begin voting on a proposal to withdraw 50,000 ZEC from the grants fund. At current estimates, that’s around $50 million.
If the proposal is approved and implemented, some coins will be taken out of circulation.
So ZEC is now at an interesting crossroads: on one side, selling pressure; on the other, potential changes to the project’s economics.
👀 Will ZEC be able to get back above $1,000, or will we see the decline continue?
#zec #zcash $ZEC
Zcash remains under selling pressure. After a powerful rally, the coin sharply reversed course and dropped below the psychological $1,000 mark.
What’s happening? 👇
📉 Traders are massively closing LONG positions.
💰 Outflows are being recorded from ZEC-based ETFs.
🐋 Large wallets are transferring coins to exchanges, which could intensify selling pressure.
But there’s another side to the story!
On November 16, ZEC holders will begin voting on a proposal to withdraw 50,000 ZEC from the grants fund. At current estimates, that’s around $50 million.
If the proposal is approved and implemented, some coins will be taken out of circulation.
So ZEC is now at an interesting crossroads: on one side, selling pressure; on the other, potential changes to the project’s economics.
👀 Will ZEC be able to get back above $1,000, or will we see the decline continue?
#zec #zcash $ZEC
