Zcash drops 12% to $1,188 despite upcoming NU7 upgrade
- —ZEC fell 12.3% from $1,355.20 to $1,188.65, then rebounded above $1,200
- —Futures liquidations in ZEC totaled about $9.2 million over 24 hours
- —Open interest in ZEC futures stood at roughly $2.378 billion
- —NU7 upgrade cutting block time from 75 to 25 seconds is due around November 5
Why it matters: The drop shows technical upgrades are being outweighed by broad risk-off sentiment; holding above $1,200 will set the tone for ZEC's next move.
Source: Blockmedia