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FIGR_HELOC $1.03 Markets · News brief
Zcash rises ahead of NU7 upgrade as traders watch key levels
ZEC gained on upgrade anticipation, with analysts citing a $1,370 trigger and derivatives activity climbing.
Key takeaways
- Upgrade timing. NU7 activation is tied to block height 3,543,405, expected around Nov. 5, so the calendar date is an estimate.
- Faster blocks. Target block time falls from 75 seconds to 25 seconds, with block subsidies adjusted so issuance is not tripled.
- Funding shift. Zcash Community Grants withdrew a proposal to redirect about 98,000 ZEC toward mining rewards.
What happened
Zcash traded higher on Nov. 4 as the privacy-focused cryptocurrency approached its NU7 network upgrade. Crypto.news reported ZEC at $1,310.03, up 9.4% over 24 hours, after ranging between $1,159.27 and $1,347.03 during the session. CoinGape put the price at $1,274.78 with a 12.75% gain, noting the move came amid a broader market unsettled by Democratic victories in both chambers of Congress.
The recovery lifted Zcash back above $1,300 and, according to Crypto.news, returned it to the top ten cryptocurrencies by market capitalization. CoinGape reported that ZEC was up about 170% year-to-date and that market participants were focused on whether it could reach $1,500.
Traders cited by Crypto.news were watching $1,370. Analyst Ardi identified that level as an entry condition, saying a break above it could squeeze short positions positioned higher; at the quoted price, ZEC would have needed roughly 4.6% more to reach it, and the session high of $1,347.03 stayed below. Analyst Jesse Olson said ZEC had found support on his daily chart and described the move as a breakout with a pending daily buy signal.
CoinGape reported that derivatives activity expanded alongside the price. Trading volume rose 29.71% to $9.08 billion and open interest climbed 23.10% to $2.86 billion, which the outlet said indicated more outstanding futures positions without necessarily pointing to direction.
First $1.3KLatest $1.3K-1.0% over the period
Points are daily observations, not closing prices.
