Zcash took back $1,000 — then lost it again.
$ZEC is at $985, down 3.4% in 24 hours. In the last day it ran up to $1,028, then slipped back under the line that mattered all week.
The leverage washout is still going, but it is slowing down:
• Yesterday's wave wiped out over $40M in leveraged positions, mostly longs.
• In the last 24 hours it is about $13M — still heavy, but the pace is dropping fast.
• Volume is still huge at $206M. People are not ignoring ZEC, they are trading it hard.
• One more weight on it: Grayscale's Zcash fund has seen about $15M in outflows this month.
No ZEC-specific news, no problem with the NU7 upgrade. The move is still about leverage and outflows, not the network.
$951 is the low from the washout. $1,000 is the line to watch now.
Did the washout just run out of sellers — or is this only a pause?
Not financial advice.
#ZEC #Zcash #Crypto
$ZEC is at $985, down 3.4% in 24 hours. In the last day it ran up to $1,028, then slipped back under the line that mattered all week.
The leverage washout is still going, but it is slowing down:
• Yesterday's wave wiped out over $40M in leveraged positions, mostly longs.
• In the last 24 hours it is about $13M — still heavy, but the pace is dropping fast.
• Volume is still huge at $206M. People are not ignoring ZEC, they are trading it hard.
• One more weight on it: Grayscale's Zcash fund has seen about $15M in outflows this month.
No ZEC-specific news, no problem with the NU7 upgrade. The move is still about leverage and outflows, not the network.
$951 is the low from the washout. $1,000 is the line to watch now.
Did the washout just run out of sellers — or is this only a pause?
Not financial advice.
#ZEC #Zcash #Crypto