Zcash rally hits a test as ZEC drops 8.5% and OKX open interest falls 13.5%
- —ZEC fell 8.5% in a day to about $1,464 after a 74.5% 30-day gain
- —OKX ZEC perpetual open interest dropped 13.5% in 24 hours to $164.95 million
- —Open interest is down 30.4% from the September 18 peak of $236.84 million
- —About 4.9 million ZEC, or 28.9% of supply, sits in shielded pools
Why it matters: The open-interest decline signals a leverage reset rather than a trend reversal, leaving ZEC's next move dependent on spot demand and fresh capital.
Source: crypto.news