$ZEC Chain analyst ZachXBT has criticized the zkSNARKs NFT project on Zcash, labeling it a potential scam. The project raised $17 million through blind bidding, with a trading volume of 25,305 ZEC ($36.94 million). On-chain data shows that $19.43 million (13,309 ZEC) in refunds have been issued. ZachXBT claims the project lacks utility and exhibits tactics consistent with exit scams seen in the Ordinals series.
It is a matter of fact, when this scam comes out ZEC will fall like a falling knife.
$ZEC At 4 am ET, when the pre market opens. The price of an Grayscale Zcash ETF will govern the price of ZEC. Sell off starts from today. Lets take it to the bottom where it came from.
$ZEC Do not enter now. There is quite liquidity in bottom 1300 which the whale will flush first then, they will make there move towards 1600-1700-1800.
$ZEC There are some weird activity is going on in this chain. i am investigating the things. May US govt should check where the transactions are going in
$ZEC Just wait for the FOMO to end, this will be in the trash soon. 90% don't know the use case of this project. They only recite privacy. But the important supply who is controlling is with the developer who is once hacked. This might be a good opportunity for the hacker to convert this into tangible liquidity