Markets· ★★· bearish·

Zcash Erases Nearly All of Its 48% Rally as Interest and Open Interest Peaked Before Price

  • —ZEC closed Oct. 14 at $1,145, just 3% above its Sept. 15 level
  • —A roughly 30% drop from the $1,650 peak erased most of September's gains
  • —Open interest peaked at 1.60 million ZEC on Sept. 17, ahead of the price top
  • —Social mentions of ZEC fell to 50, the lowest since Sept. 2
Why it matters: A decision on moving the NU7 upgrade to mainnet on Oct. 20 could act as a catalyst for ZEC amid weak interest and positioning.
#ZEC
Source: Koin Bülteni
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