Zcash devs decide on October 20 whether NU7 (block time cut from 75 to 25 seconds, mainnet pencilled for November 5) goes live, and $ZEC is sliding into that date rather than running at it. đïž
1. $ZEC at 1,161 USDT is -3.73% today while Bitcoin at 81,574 is -0.39%, so this drop is Zcash's own, roughly ten times the size of the tide.
2. The print sits in the lower third of a 1,133 to 1,209 range and stacks on a -5.96% week, so sellers had the ball well before the decision came into view.
3. Funding at +0.010% is the richest on the top-volume list, double what Bitcoin longs pay, on 124M USDT of volume, the third-deepest tape today, which says longs are still paying up to hold through the date even as price leaks. đ§Ÿ
A reclaim of 1,209 on this kind of volume would read as positioning for a clean decision, while a close under 1,133 is the level I'm watching, not a target, because it would say the event is being sold rather than bought. đ
#ZEC #Zcash #NU7 #FundingRates
1. $ZEC at 1,161 USDT is -3.73% today while Bitcoin at 81,574 is -0.39%, so this drop is Zcash's own, roughly ten times the size of the tide.
2. The print sits in the lower third of a 1,133 to 1,209 range and stacks on a -5.96% week, so sellers had the ball well before the decision came into view.
3. Funding at +0.010% is the richest on the top-volume list, double what Bitcoin longs pay, on 124M USDT of volume, the third-deepest tape today, which says longs are still paying up to hold through the date even as price leaks. đ§Ÿ
A reclaim of 1,209 on this kind of volume would read as positioning for a clean decision, while a close under 1,133 is the level I'm watching, not a target, because it would say the event is being sold rather than bought. đ
#ZEC #Zcash #NU7 #FundingRates