Zcash slides as ETF outflows hit $19.15M and futures open interest drops to $2.25B
- —Grayscale's ZEC ETF lost $19.15M last week, after $30.72M and $93.56M in prior weeks
- —ZEC futures open interest fell from $3.29B to $2.25B, a 30-day low
- —ZEC remains capped below the 4-hour EMA50 at $1,184 and EMA200 at $1,240
- —Key support sits at the $1,050 September high and the $1,000 psychological level
Why it matters: Sustained ETF redemptions and shrinking open interest signal fading institutional and retail demand; a break below $1,000 would open the door to $888.
Source: FXStreet Crypto