Zcash has dropped nearly 30% from its September peak amid a broader crypto selloff. Key catalysts include a potential spot ETF and the NU7 network upgrade.
Winklevoss Asset Services filed for a Zcash ETF charging 0.25%, one-tenth of Grayscale's fee. Grayscale's fund lost $218 million in under two weeks.
Zcash consolidates near $1,348 as ETF selling slows and NU7 enters testnet. Resistance sits at $1,377-$1,384.
Zcash dropped over 20% from its all-time high, driven by $93.6M in ETF outflows and geopolitical tensions.
Grayscale's Zcash ETF saw its first week of net outflows, with $93.6 million withdrawn, as ZEC's price dropped 17.5% to $1,308.
Zcash price tests key trendline amid geopolitical tensions and Fed rate hike expectations.
Misha Komarov from alloc/init discussed Shielded Bitcoin, a research concept using zero-knowledge proofs to hide transaction details, requiring no soft fork.
Grayscale names Bitcoin, Litecoin, XRP and Zcash as digital-currency assets, with Zcash seen as having most growth potential.
Zcash rises on unique catalysts but macro headwinds and technical resistance cap gains. Key levels: 1,031 support, 1,440 resistance.
Grayscale filed for a Zcash ETF paying biweekly from options premiums, not coin holdings, with SEC review due by early December.
Ledger's desktop app now allows private Zcash balances. ZEC is up 84% in the past month despite a slight 24-hour dip.
Zcash holds above $1,600 as weekly shielded transactions hit 62,379, a four-year high, and institutional inflows rise.
A trader lost $10.68M shorting Zcash after a 177% monthly rally, wiping out $9M in profits.
Zcash ETFs led crypto fund inflows last week with $98.2M, while Ethereum posted the only outflow, losing $140M.
Zcash soared over 45% this week as Paradigm revealed ZEC holdings and the NU7 vote backed halvings and faster blocks.