.png){kind=logo}
Zcash (ZEC) showed resilience amid broader cryptocurrency market weakness, trading near USD 1,308 as investors assessed its newly activated Network Upgrade 7 (NU7). The privacy-focused cryptocurrency gained approximately 2%, despite institutional fund outflows and heightened market volatility.
Blockchain data suggests that NU7 activated at block 3,543,405 on November 6, reducing Zcash's target block interval from 75 seconds to 25 seconds. The upgrade enables confirmations approximately three times faster, potentially improving payment efficiency for merchants, exchanges and wallet users.
Zakura's engineering tests, conducted across 80 computers in 11 regions, showed that discarded blocks increased from 1.57% to 3.43% under demanding conditions. NU7 also introduced a Network Sustainability Mechanism allocating 40% of transaction fees to miners and reserving 60% for future rewards.
The upgrade additionally disabled the older Sprout privacy pool, leaving approximately 12,224 ZEC inaccessible pending any approved recovery mechanism.
According to SoSoValue, Grayscale's ZCSH fund recorded USD 10.99 million in Thursday outflows, bringing weekly net withdrawals to approximately USD 14.77 million. However, derivatives activity suggested continued speculative interest.
CoinGlass data showed Zcash open interest increasing from 2.05 million ZEC to 2.15 million ZEC, indicating expanding leveraged exposure despite broader cryptocurrency liquidations exceeding USD 1 billion.
Zcash traded around USD 1,308, approaching resistance at USD 1,340, previously established during October trading. A confirmed breakout could open a path toward USD 1,698, representing approximately 30% upside from USD 1,308.
Technical indicators remained constructive, with ZEC trading above its 50-day exponential moving average at USD 1,216 and 200-day average at USD 856. The Relative Strength Index stood near 55, while MACD remained above its signal line, suggesting moderately positive momentum.
Failure to overcome USD 1,340 could expose initial support near USD 1,216, followed by the stronger USD 1,112 floor. Although NU7 improves transaction efficiency, continued ETF withdrawals and elevated leverage could increase volatility. Investors will monitor network performance, institutional flows and resistance levels to determine whether Zcash can sustain its relative strength.
Also Read: Crypto Prices Today: Bitcoin Slips to USD 75,500 as Tech Selloff Erases Midterm Gains