Zcash Jumps 5% to $1,280 on Short Squeeze Ahead of NU7 Upgrade
- —ZEC gained roughly 4.8% in 24 hours versus 0.9% for BTC and 1.2% for ETH
- —ZEC liquidations totaled $4.91 million, with $3.87 million (79%) in shorts
- —Zcash open interest rose 4.82% to $2.57 billion
- —NU7 has been on public testnet since October 4 with 25-second blocks; mainnet decision due October 20
Why it matters: NU7 would speed up confirmations and improve Zcash's usability for payments, but rising open interest raises the risk of a sharp reversal.
Source: Coinpaper