Zcash trims losses as risk sentiment improves; CPI and Winklevoss ETF take focus
Zcash cut losses as risk appetite improved, with traders turning to Wednesday's US CPI report and the proposed Winklevoss Zcash ETF.
Zcash cut losses as risk appetite improved, with traders turning to Wednesday's US CPI report and the proposed Winklevoss Zcash ETF.
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Grayscale's Zcash ETF saw its first week of net outflows, with $93.6 million withdrawn, as ZEC's price dropped 17.5% to $1,308.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.